| Angola |
“The recovery of this 171 carat gem-quality white diamond continues to underpin the potential of the kimberlite exploration programme as drilling of the high-priority kimberlites in the Canguige catchment continues.”
Stephen Wetherall |
Lucapa Diamond Company.
Lucapa Diamond Company Limited and its partners Empresa Nacional de Diamantes E.P. and Rosas & Petalas yesterday announced the recovery of another +100 carat white diamond from the Lulo alluvial mine in Angola. The 171 carat gem-quality white stone is the 15th +100 carat diamond recovered to date from Lulo and the 2nd +100 carat diamond recovered for 2020. It is also the 4th largest diamond recovered to date since activities began at Lulo.
This 171 carat white diamond was recovered from Mining Block 6 as scaled mining operations recommenced at Lulo. Mining Block 6 has now produced 6 of the +100 carat diamonds. Mining Blocks 6 and 8 together have now produced 13 of the 15 +100 carat diamonds recovered in total at Lulo, including Angola’s largestrecorded gem – the 404 carat 4th February Stone recovered and sold
in 2016 for US$16 million.
Lucapa Managing Director Stephen Wetherall commented: “The recovery of this 171 carat gem-quality white diamond continues to underpin the potential of the kimberlite exploration programme as drilling of the high-priority kimberlites in the Canguige catchment continues.”
Lucapa is a niche diamond producer with high-value mines in Angola (Lulo) and Lesotho (Mothae).
The Lulo alluvial mine and Mothae kimberlite mine both produce large and high-value diamonds, with >75% of revenues generated from the recovery of +4.8 carat stones. Lulo has produced 15 +100 carat diamonds to date and is one of the highest average US$ per carat alluvial diamond producers in the world. Lucapa and its Project Lulo partners have also received highly encouraging results from their search to discover the primary hard-rock source of the high-value Lulo alluvial diamonds.
The new 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho commenced commercial mining operations in January 2019. It produced > 30,000 carats in its first year of production, including 3 +100 carat diamonds. Lucapa’s Board and management team have decades of diamond industry experience across the globe with companies including De Beers and Gem Diamonds.