Industry News by Nemesis

Lucapa’s Lulo on Track to Break Production Target

November 19, 2017

Lucapa Diamond, which has a 40 percent stake in the Lulo diamond project in Angola, said it is on track to break its record 2017 annual production target. 


The diamond company and its partners, Endiama and Rosas & Petalas had set a target treatment rate of 240,000 bulk cubic metres (bcm) for 2017. 


They treated a record 29,657 bcm of alluvial gravels from Lulo last month bringing their year-to-date treatment to 217,999 bcm, exceeding last year’s total of 189,333 bcm. 


Diamond production for October was 2905 carats, bringing year-to-date carats recovered to 16,484 carats. 


A total of 49 “specials” — diamonds weighing more than 10.8 carats — were recovered last month, the second highest number produced in a month at Lulo. 


Meanwhile, Lucapa said a 163-carat stone from Lulo had fetched $33.7 million at a Swiss auction. 


The diamond was the biggest gem cut from a record 404-carat stone discovered at Lulo in February 2016. 


The 163-carat diamond took 11 months to cut and polish and was featured in a necklace designed by Swiss high end jeweller, de Grisogono. 

 

Source: Rough-Polished

Please reload

Follow Us...
Recent Posts
Please reload

Archive
Please reload

Search By Tags