Advanced Search

Lulo Resource Estimate Nearly Doubles

Mar 25, 2019 10:21 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

 Diamond resources at Lucapa Diamond Company’s Lulo alluvial mine in Lesotho are 90% higher than it originally estimated, according to an independent valuation.

Lulo has 80,400 carats remaining in the mine, according to a December 2018 study by external consulting company Z Star Mineral Resource Consultants. That figure was reevaluated from a previous Lulo resource estimation conducted in May 2017, which listed the mine’s total contents at 42,200 carats.

Z Star also updated the average price for Lulo rough to $1,420 per carat, a 17% improvement versus the previous estimate of $1,215 per carat.

“The near doubling of in-situ resource carats in the upgraded Lulo diamond resource supports the Lulo partners’ plans to increase alluvial production in 2019,” Lucapa CEO Stephen Wetherall said.

Image: Diamonds from the Lulo mine. (Lucapa)
Tags: lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Rapaport News, Stephen Wetherall, Z Star Mineral Resource Consultants
Similar Articles
The new Cullinan planPetra Revenue Falls to Nine-Year Low
Jul 26, 2020
Petra Diamonds’ full-year sales dropped to their lowest level in almost a decade as the coronavirus aggravated an already
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
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.