117 carat diamond, a positive start to 2020
Lucapa Diamond Company and its partners Endiama and Rosas & Petalas announced the recovery of a 117 carat diamond from the Lulo alluvial mine in Angola. The gem-quality 117 carat stone is the 14th +100 carat diamond recovered to date from Lulo by Lucapa and its partners and the first for 2020.
Gem-quality 117 carat Lulo diamond The 117 carat diamond was among the Specials (+10.8 carat diamonds) recovered recently from Mining Block 19. Mining Block 19 is located between the prolific Mining Blocks 6 and 8, which have together produced 12 +100 carat diamonds, including Angola’s biggest recorded gem – the 404 carat 4th February Stone recovered and sold in 2016 for US$16 million.
Lucapa Managing Director Stephen Wetherall commented: “The recovery of this gem-quality 117 carat diamond represents a positive start for Lulo in 2020 as we continue rolling out our plans to increase production and revenues this year.”
Lucapa also continues to recover large diamonds from the Mothae kimberlite mine in Lesotho (Lucapa 70%; Government of the Kingdom of Lesotho 30%), with the latest recovery of Specials including a 60 carat gem-quality stone.
Lucapa is a growing diamond company with high-value mines in Angola (Lulo) and Lesotho (Mothae). The Lulo alluvial mine and Mothae kimberlite mine both produce large and high-value diamonds, with >75% of revenues generated from the recovery of +4.8 carat stones.
Lulo has produced 14 +100 carat diamonds to date and is one of the highest average US$ per carat alluvial diamond producers in the world.
