Lucapa Discovers 38.6-Carat Pink Diamond at Lulo Project in Angola
September 11, 16
(IDEX Online) – Australia-based Lucapa Diamond Company has uncovered yet another multi-million dollar pink diamond at its Lulo project in Angola.
The 38.6-carat stone is the largest colored diamond recovered to date from Lulo, and easily beats the 28.5-carat light pink diamond the company sold last week. That stone was sold in a parcel of other diamonds for a total of $5.8 million. Lucapa's latest pink diamond discovery has not yet been valued.
Lucapa and its Angolan-based partners are still searching for the source of the alluvial diamonds it has been discovering at Lulo. CEO Stephen Wetherall said the company had set its near-term sights on using a just-launched drilling program to target high priority kimberlite targets on the concession and was exploring options to increase its 40 percent shareholding in Lulo.
Lucapa, in February, discovered the biggest ever recorded diamond in Angola, a 404-carat white gem. The stone was 27th biggest recorded diamond in the world.