Lucapa Diamond said the Angolan government has gazetted a new mineral investment contract for the Lulo kimberlite exploration licence.
The licence would expire on 30 April 2023.
“Following on from the recent gazetting of Angola’s new diamond marketing policy, this new five-year award is another sign of the positive changes taking place in the Angolan diamond sector, which are aimed at increasing foreign direct investment and diamond production,” said Lucapa managing director Stephen Wetherall.
Lucapa was a co-owner and operator of the kimberlite exploration programme on the highly prospective 3,000km2 Lulo concession, which was run in parallel with the alluvial diamond mining activities, conducted through Sociedade Mineira Do Lulo.
Other Lulo partners were Endiama and Rosas & Petalas.
Lucapa said it had, together with its partners, established a systematic year-round kimberlite drilling programme that seeks to identify the primary hard-rock source, or sources, of the exceptional large and high-value alluvial diamonds currently being recovered proximal to the kimberlite targets at Lulo.