A 117-carat diamond was recovered from the Lulo alluvial mine in Angola. Lucapa Diamond Company, the Australian-listed firm that operates the mine in joint venture with the Angolan government said that the recovery represents a positive start for Lulo in 2020. This, they further added, is as the firm continues with the rolling out of their plans to increase production and revenues in the new year.
According to MD of Lucapa Diamond Stephen Wetherall, the gem-quality 117 carat stone is the fourteenth 100 carat or larger diamond recovered to date from Lulo by Lucapa and its partners and the first for 2020.
The media reports indicate that the 117 carat diamond is among the ‘specials’- a description used for diamonds with a weight of 10.8 carats or higher – recovered recently from Mining Block 19 of Lulo alluvial mine. Mining Block 19 is located between the prolific Mining Blocks 6 and 8, which have together produced 12 +100 carat diamonds.
In November of 2019, Lucapa Diamond said it was in advanced discussions with the Angolan government to lift its stake the Lulo exploration joint venture to above 50% from the firm’s current 39% holding.
Discussions were held between Angola’s mineral resources and petroleum ministry and the national diamond company, Endiama, which owns a controlling 51% stake in the Lulo joint venture that holds a kimberlite exploration licence for the 3,000km² Lulo diamond concession in Angola.
In addition to the shares owned by Lucapa and Endiama, a local firm, Rosas & Petalas, owns a 10% share in the joint venture holding the mining licence area. Lucapa reported a record quarterly production for the three months leading to-September with the best numbers ever recorded flowing from its Mothae mine in Lesotho.