Tuesday, June 25, 2024

Lucapa Recovers 195-Carat Diamond from Lulo Mine

New York— Lucapa Diamond Company (ASX: LOM), along with its Lulo alluvial mine partners Endiama and Rosas & Petalas, announced the recovery of a 195-carat Type IIa diamond from the Lulo mine in Angola on Tuesday.

This diamond is the sixth largest ever found at Lulo and marks the 44th diamond over 100 carats recovered from the site. Notably, it is the fourth diamond over 100 carats discovered at Lulo this year.

The Lulo mine, known for producing the world’s highest dollar-per-carat alluvial diamonds, began commercial production in January 2015. In 2016, it yielded Angola’s largest diamond, a 404-carat white stone named the “4th February Stone.”

Lucapa holds a 40% stake in the Lulo mine, with the remaining shares owned by Angola’s national diamond company Endiama and private entity Rosas & Petalas.

Angola ranks as the world’s fifth-largest diamond producer by value and sixth by volume. The country’s diamond industry, which began a century ago under Portuguese colonial rule, is currently undergoing successful liberalization.

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