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Lucapa Secures Angola Exploration Permit
Nov 28, 2016 5:17 AM
By Rapaport News
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RAPAPORT... Lucapa Diamond Company said it received a license to explore
at the Lulo Diamond Project in Angola for another five years.
Angola’s Minister of Mines and
Geology Francisco
Manuel Monteiro de Queiroz
signed off the approval, which applies to the entire 3,000 square kilometer Lulo
site. The decision
enables Lucapa and its local partners, Rosas & Petalas and the state-owned company
Endiama, to finalize an investment contract.
Lucapa stepped up its kimberlite exploration program at Lulo
in “anticipation of the new license,” with two rigs now drilling the
priority kimberlite targets and a third rig due to arrive in Angola in
December. The company will also conduct a “time-domain electromagnetic survey” to
help identify further targets and improve the definition of known targets.
The approval follows an alluvial mining license that Lucapa
got in November 2014 and “is further evidence of a strong working relationship
between the Lulo partners and Angolan government,” Lucapa said.
The Lulo mine has been credited with the production of several
large rough diamonds, including the biggest in Angola’s history that fetched $16
million in February.
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Tags:
Angola, ENDIAMA, exploration, Francisco Manuel Monteiro de Queiroz, lucapa, Lucapa Diamond Company, Lulo, Lulo Diamond Project, mining, Minister of Mines and Geology, Rapaport News, Rosas & Petalas
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