Lucapa Appoints Wetherall, Selby to Drive Lulo Development

Oct 20, 2014 4:35 AM By Deena Taylor

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RAPAPORT... The Lucapa Diamond Company appointed Stephen Wetherall as the company's executive director and Nick Selby as general manager of operations. The appointments were made in an effort to drive the next stage of development at the company's Lulo diamond concession in Angola.

Wetherall is a qualified chartered accountant with over than 20 years of experience in financial and operational management, corporate transactions and strategic planning. He has held senior financial and executive roles at De Beers and Gem Diamonds and has a vast understanding of the diamond industry -- from exploration through to retail. He was responsible for establishing the marketing and diamond manufacturing operations for Gem Diamonds and served as the company's group sales and marketing executive responsible for the company's global marketing and manufacturing division.

Selby is an extraction metallurgist with 35 years of experience in the mining industry. He began his career with De Beers, where he spent 19 years in various technical roles. He joined Gem Diamonds in 2005, where he was responsible for establishing diamond projects in Angola, Australia, the Democratic Republic of the Congo, Central African Republic, Indonesia, Lesotho and Botswana as well as ongoing mineral extraction efficiency improvements.

"They have already commenced a review of the mine development plan, plant processing and recovery plant efficiencies as well as prioritizing exploration targets with the team on the ground," said Gordon Gilchrist, the chairman of Lucapa Diamonds.

The company is currently in the final stages of obtaining a license to mine alluvial diamonds in a 218 square kilometer area within the Cacuilo River valley at the Lulo diamond concession, which is located in Angola's Lunda Norte province. Diamonds recovered during the exploration phase at Lulo achieved an average price of $6,960 per carat, according to the company.

Tags: Angola, Deena Taylor, diamonds, Lucapa Diamond Company, Lulo diamond concession, Nick Selby, Stephen Wetherall