RAPAPORT... The Lucapa Diamond Company will being mining next month at its Lulo alluvial concession in Angola, where the miner plans to target high-grade diamond ore bodies. During the first phase, Lucapa anticipates that ore bodies hold approximately 35 carats per 100 tonnes (cpht), while the Lulo project overall reflected ore-grade of 26 cpht, with a large proportion of type IIa stones.
Lucapa plans to sell a third parcel of Lulo diamonds, containing more than 1,000 carats, in February through the Angola diamond marketing agency, SODIAM. The largest stone the sale will offer is a 10.15-carat, type IIa that is valued at more than $180,000, or close to $18,000 per carat.
To date, Lucapa has sold two parcels of Lulo rough stones, consisting of 867 carats, for $4.9 million (AUD 6 million), at an average price of close to $5,700 per carat.
In November, the Perth-based miner signed a comprehensive mining agreement with its project partners in Angola to create a new mining company that would hold a 35-year license of 218 square kilometers at the Lulo concession. Lucapa operates Lulo in partnership with Endiama, the government-owned diamond firm, and a private company, the Rosas & Petalas Group.
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