News

Advanced Search

Lucapa Seeks Source of Huge Lulo Diamonds

Jun 27, 2016 7:47 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Lucapa Diamond Company has started a drilling program to identify the kimberlite source of a series of exceptionally large diamonds it has recovered at the Lulo mine in Angola.

The project will test “high-priority” kimberlite targets at the mine, which has produced a number of large rough diamonds, including one weighing 404 carats which fetched $16 million (AUD 22.5 million) in February, Lucapa said. The program is scheduled to run throughout 2016.

The kimberlites set to be drilled are all close to alluvial mining blocks “8 at 6,” which have been regular sources of “large, premium-value special diamonds.”

Separately, Lucapa said it sold a parcel of 808 carats of rough Lulo diamonds for $880,720 at an average price of $1,090 per carat.
Tags: Angola, large diamonds, lucapa, Lucapa Diamond Company, Lulo, Lulo mine, mining, Rapaport News
Similar Articles
© Copyright 1978-2017 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.