ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes E.P. and Rosas & Petalas have announced the recovery of a 128 carat diamond from the Lulo alluvial mine in Angola.
The 128 carat diamond is the 12th +100 carat diamond recovered to date from Lulo, continuing to underline the large-stone nature of the prolific Lulo diamond field.
It was among the specials recovered recently from Mining Block 6, along with a 7.5 carat fancy purple pink gem.
Testing on a Yehuda colorimeter has confirmed the 128 carat stone is a top-colour white Type IIa diamond.
The recovery of the 128 carat diamond and 7.5 carat fancy purple pink follows the recent historic tender of seven large, top-quality diamonds achieving US$16.7 million (US$22.9 million) at an exceptional average price of US$33,530 per carat in the first international sales event under Angola’s new diamond marketing regulations.
The Lulo partners will likely include the 128 carat diamond and 7.5 carat fancy purple pink in the next international tender, along with the 75 carat Type IIa top-colour diamond recovered in Q4, 2018 and other specials recovered.
Lucapa is a growing diamond company with a portfolio of high-quality mines in Angola and Lesotho, along with exploration projects in Angola, Australia and Botswana.
The Company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand remains robust.
Lucapa’s flagship asset is the Lulo Diamond Project in Angola, which is a prolific producer of large and premium-value alluvial diamonds. Lulo has produced 12 +100ct diamonds to date and is the highest US$ per carat alluvial diamond production in the world.
Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems through a systematic drilling and exploration program.