Lucapa Recovers Yet Another +100-ct Diamond at Lulo
January 04, 21
(IDEX Online)- Lucapa today announced the recovery of yet another +100-carat diamond, its 17th since commercial operations began at Lulo, in Angola, five years ago.
The Australian miner said it was significant that the 113-carat gem-quality white stone (pictured) was found in a new focus area of its kimberlite exploration program, indicating there may be more large and high-value diamonds.
Lucapa, one of the world's highest per-carat alluvial diamond producers, said it had been recovered from Mining Block 46, immediately downstream of the Canguige river.
"This recovery builds on the performance of Lulo in the latter half of 2020 and bodes well for the coming months as mining focuses on the southern terrace mining blocks during the wet season," said the company in a statement.
The miner restructured $13m of loan repayments last August after the pandemic saw its rough sales plunge by 80 per cent.