Industry News by Nemesis

Endiama Confirms Finding Largest Diamond Ever in Angola

February 18, 2016

A 404,2 carat alluvium diamond was recently mined in Angola's northeastern Lunda Norte province-based Lulo Project by the Lucapa Diamond Company Limited headquartered in Australia.


The diamond, the largest ever found in Angola, is among the world's 30 biggest discovered to date.


The "Projecto Lulo" is operated under an partnership in which Edniama holds a 32 percent share, while Lucapa Diamond Company Limited holds 40 percent and "Rosas & Pétalas" (28).


The Lulo's 3,000 square kilometre concession is situated about 150 kilometres of the Catoca diamond mine operated by Alrosa, and ranks fourth among the world's largest diamond mining project, responding for 70 percent of Angola's annual production.


The Lulo mine started operation in 2015, after the operators got the licence in November 2014.


The largest diamond earlier on discovered at the Lulo concession was a 133,4 carat gem, but a 217 carat diamond had been found at Luarica much earlier in 2007.


In a press release, the CEO of the Empresa Nacional de Diamantes (Endiama), António Carlos Sumbula, said the find of the 404,2 carat diamond constitutes a relevant landmark in the growth and development of the Angolan mining industry.


"We are very happy to have recovered the largest diamond ever discovered in Angola. This is a significant step to our country, our diamond industry and to the "Projecto Diamantífero do Lulo", stated Carlos Sumbula. He added that the Lulo diamond field is an example of what Angola would like to show to the world, in order to encourage international investment into the Angolan diamond mining industry.


In his turn, the CEO of the Lucapa Diamond Company Ltd, Stephen Wetherall, said Lucapa and its Lulo associates, Endiama and Rosas & Pétalas, were extremely proud about having recovered such an exceptional diamond.


He stated that all along they had highlighted the very special particularities of the Lulo diamond deposit, adding that the find, as well as others of diamonds over 100 carat mined less than a year's time, constituted one more evidence of that fact.


The CEO of Rosas & Pétalas, Celso Rosas, said he was proud about the great results reached in Lulo since exploration started in 2015.


According to studies, Angola's subsoil holds 90 percent of the mineralised kimberlites and the diamond so far explored in the country over the last 100 years is just a small portion of the existing potential.


Angola is among the world's five top diamond producers in value and among the 10 major producers in amount. Its annual production is estimated at 8.3 million carat, with a net revenue of Usd 1.1 billion.


Source: All Africa

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