Lulo Alluvial Parcel Sells for $2.1 Million
May 19, 16
(IDEX Online News) – Lucapa Diamond Company Limited and its partners announced that it sold a parcel of 1,862 carats of alluvial diamonds from its Lulo Diamond Project in Angola, for AUD$2.9 million ($2.1 million).
The company said that the end of the Angolan wet season enabled the resumption of alluvial diamond mining operations at Mining Block 6, where special recoveries have included a 13-carat fancy yellow – one of the largest fancy-colored gems recovered to date at Lulo. Operations are expected to also resume at Mining Block 8 during the June quarter.
The two mining blocks have been sources of large valuable diamonds, producing four +100-carat stones, including the largest ever recovered from Angola, a 404-carat Type II-a D-color gem, which sold for AUD$22.5 million ($16 million).
Lucapa also announced two management appointments; Richard Barnes as Lulo Mine general manager and Johan van Wyk as Lucapa finance manager.