Lucapa Recovers 127 Carat Diamond
Lucapa Diamond Company Limited and its partners Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas are pleased to announce the recovery of a +100 carat white diamond by Sociedade Mineria Do Lulo (“SML”) from its Lulo alluvial mine in Angola.
The 127 carat gem-quality white stone is the 16th +100 carat diamond recovered to date from Lulo and the 3rd +100 carat diamond recovered in 2020
This 127 carat stone was recovered from the leziria (flood plain) area in Mining Block 24 as part of the targeted dry season operations. This is the first +100 carat diamond produced from this Mining Block and continues to highlight the significance of the Lulo concession as mining continues in these new leziria areas.
Lucapa Managing Director Stephen Wetherall commented: “The recovery of this 127 carat stone, which is Lulo’s 16th +100 carat diamond recovered, continues to showcase the exceptional nature of the Lulo alluvial deposit and highlights the potential of the mining campaign planned for these previously untouched and expansive leziria areas along the Cacuilo River.”
Lucapa is a niche diamond producer with high-value mines in Angola (Lulo) and Lesotho (Mothae). The Lulo alluvial mine and Mothae kimberlite mine both produce large and high-value diamonds, with >75% of revenues generated from the recovery of +4.8 carat stones.
Lulo has produced 16 +100 carat diamonds to date and is one of the highest average US$ per carat alluvial diamond producers in the world. Lucapa and its Project Lulo partners have also received highly encouraging results from their search to discover the primary hard-rock source of the high-value Lulo alluvial diamonds.
The 1.1Mtpa Mothae kimberlite mine in diamond-rich Lesotho commenced commercial mining and processing operations in January 2019. It produced >30,000 carats in its first year of production, including 3 +100 carat diamonds. Lucapa has recently secured funding to commission a ~45% expansion in the processing capacity of the Mothae kimberlite mine from 1.1Mtpa to 1.6Mtpa which is scheduled for completion in Q1 2021.
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