Industry News by Nemesis

Lucapa Successfully Cuts, Polishes First Diamond

January 15, 2020

 

Lucapa Diamond has successfully cut and polished its first diamond, marking a milestone for the company’s move along the diamond value chain.


A 36 carat rough diamond from the company’s 70%-owned Mothae kimberlite mine, in Lesotho was manufactured into six polished D-colour diamonds under a cutting and polishing partnership with an unnamed “leading” international diamantaire.


Lucapa said under the partnership agreements, net profits from the sale of the polished diamonds are shared equally with the diamantaire. 


“The exceptional diamonds manufactured under our first profit-sharing cutting and polishing partnership represent another milestone for Lucapa’s growth as a global diamond group as we progress along the diamond value chain,” said Lucapa managing director Stephen Wetherall. 


“This strategy was implemented to maximise the rough value of our diamond production from our Mothae and Lulo mines and to access additional revenues streams for Lucapa and our mining partners into the future.”  


The two largest polished diamonds produced from the 36 carat Mothae stone were both graded as D-colour and Flawless by the Gemological Institute of America, including the exceptional 8.88 carat Pear diamond. 


Meanwhile, Lucapa said it will soon announce the first results from the cutting and polishing of Lulo production.

 

Image credit: Lucapa

 

Source: Rough&Polished

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