Lulo Delivers Yet Another +100-carat Diamond
December 09, 20
(IDEX Online) - Angola's alluvial Lulo project has delivered yet another +100-carat diamond, its 16th since commercial operations began there five years ago.
The 127-carat gem-quality white stone is the first to be recovered from the leziria - flood plain - in a particular mining block within the 3,000km2 concession in the country's Lunda Norte diamond heartland, said Australian miner Lucapa.
It is seen as an encouraging indication that other as-yet unexplored areas could yield extremely high-value diamonds.
Managing director Stephen Wetherall said: "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, one of the world's highest per-carat alluvial diamond producers, restructured $13m of loan repayments in August after the pandemic saw its rough sales plunge by 80 per cent.
Pic of the 127-carat diamond courtesy Lucapa