Industry News by Nemesis

Lulo Yields Seven Diamonds Over 50ct.

August 17, 2017

 

Lucapa Diamond Company has recovered seven stones exceeding 50 carats at its Lulo mine in Angola, including two type IIa gems, the miner announced Thursday.

Those two diamonds weigh 83 carats and 68 carats respectively, Lucapa reported. All seven will be part of the next parcel that Sociedade Mineira Do Lulo (SML), the mining company in which Lucapa has a 40% stake, is scheduled to sell in September, the diamond producer added.

The latest large-diamond finds came from Lulo’s mining block 8, where Lucapa recently resumed alluvial operations following the end of the wet season, the miner said. The section is known for yielding large and high-value diamonds, including Angola’s biggest recorded diamond, the 404-carat 4th February Stone, which sold for $16 million in February 2016.

The most recent tender of rough diamonds from the Lulo mine brought in revenues of $1.5 million, Lucapa reported last month.

 

Source: Rapaport

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