- Lucapa Diamond Company (LOM) has recovered yet another diamond of more than 100 carats from its Lulo alluvial mine in Angola
- The 127-carat gem-quality white stone was recovered from a flood plain area of the Lulo mine’s Block 24
- This is the third gem of this size to be recovered from Lulo in the past year alone, and the 16th in the mine’s history
- Managing Director Stephen Wetherall says the big gemstone showcases the exceptional nature of the Lulo mine
- On top of Lulo, Lucapa also produces diamonds from the Mothae kimberlite mine in Lesotho, Southern Africa
- Shares in Lucapa are trading over 3 per cent higher this morning, currently at 5.8 cents each
Lucapa Diamond Company (LOM) has recovered yet another diamond of more than 100 carats from its Lulo alluvial mine in Angola.
This is the 16th diamond of more than 100 carats recovered from the Angolan mine to date, with three now having been recovered in 2020 alone.
The 127-carat gem-quality white stone was pulled out of a flood plain, or leziria, area in Lulo’s Mining Block 24 as part of dry season operations at the mine.
According to the company, this is the first gem of this size recovered from this mining block, but it highlights the significance of the Lulo mine as the company keeps mining new areas in the concession.
“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’s Managing Director, Stephen Wetherall, said.
Lucapa’s mining work at the Lulo mine was hit by COVID-19 restrictions in Angola earlier during the year as the number of employees allowed on site was limited. Still, the company said in its latest annual report it was able to hit record diamond production during September despite the virus regulations.
On top of the Angola mine, Lucapa produces diamonds from the Mothae kimberlite mine in Lesotho, which is a small kingdom completely landlocked by South Africa.
Shares in Lucapa are trading 3.57 per cent higher this morning, currently at 5.8 cents each at 11:48 am AEDT. The company has a $46.73 million market cap.