Industry News by Nemesis

Lucapa Recovers ‘Largest Diamond in Angolan History’

February 15, 2016

Lucapa Diamond Company said it has recovered the largest recorded diamond ever found in Angola.

The 404.2-carat gem has been confirmed as a “top-tier,” type-IIa, D-color diamond, according to a statement February 15. It was recovered from alluvial mining at Mining Block 8 at the company’s Lulo Diamond Project in the African nation. 

Lucapa, which is listed on the Australian Securities Exchange, claimed the diamond is the largest-ever to be discovered by an Australian company and the fourth 100-plus carat diamond recovered from Lulo to date. Mining Block 8 has already produced more than 60 “large special” diamonds since mining started in August 2015. The previous largest diamond from Lulo was 133.4 carats., while the previous Angolan record was set by the 217.4-carat “Angolan Star” recovered from the Luarica mine in 2007.

Lucapa operates Lulo and holds a 40 percent interest in the alluvial diamond mining operations. Endiama has a 32 percent interest and private local partner Rosas & Pétalas holds 28 percent.

“The Lulo diamond field is an example of what we would like to showcase to the world to encourage international investment in Angola’s diamond mining industry,” said Antonio Carlos Sumbula, Endiama’s chairman.


Source: Rapaport

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