Lucapa Recovers Fifth Biggest Diamond at Lulo
March 26, 24(IDEX Online) - Lucapa has recovered a 203-carat diamond from its Lulo alluvial mine, in Angola.
It is the fifth largest and the 43rd +100-carat diamond to be recovered from Lulo since commercial mining started in January 2015.
The largest ever recovery was a 404 carat Type IIa diamond, in February 2016.
The newType IIa diamond was recovered during the processing of run-of-mine stockpiled ore at Lulo, which commands the highest price per carat for alluvial diamonds in the world.
It comes just six weeks after the Australian miner announced a 162-carat and a 116-carat diamond on consecutive days. Last November Lucapa recovered a 235-carat and a 208-carat diamond.
Last week Lucapa said updated estimates now indicated significant larger diamond reserves at Lulo than previously thought.
It said the JORC (Joint Ore Reserves Committee) classified inferred alluvial diamond resource has been increased 48 per cent to 228,000 carats by external consultants from South Africa.
It says that at planned extraction rates, the new resource volume is equal to eight years' production.
Lucapa holds a 40 per cent stake in the mine. The remainder is owned by Angola's national diamond company Endiama (32 per cent) and by private Angolan company Rosas & Petalas (28 per cent).
Pic shows the 203-ct diamond.