Lucapa Diamond’s Latest Big Find Weighs in at 114 Carats

Mining and Exploration
12/07/2018 13:55

Lucapa Diamond Co. has announced the recovery of a 114 carat diamond from the alluvial Lulo Diamond Project in Angola, the 11th +100 carat diamond recovered to date from the prolific Lulo diamond field and the third so far in 2018. The 114 carat diamond adds to a significant inventory of large diamonds currently held for a later sale by Lulo mining company Sociedade Mineira Do Lulo.

According to the company's latest production update (June Quarter), diamond production was up 20% to 5,058 carats, with the weight of Specials recovered (large diamonds >10.8 carats) up 18% to 1,412 carats. The number of Special diamonds recovered rose 7% to 61, bringing to 118 the total number of Specials produced in H1 2018 (up 24%). Lucapa's mining volumes during the last quarter were up 27% to a record 72,671 bulk cubic metres, while diamond inventory is up 61% to 2,755 carats following quarterly sales of US$5m, making their total H1 2018 sales worth US$15.9m at US$1,642 per carat average. The grade recovered during the Quarter was slightly lower at 7.0 carats per 100 cubic metres (cphm3), although the overall grade for H1 2018 improved 10% to 7.1 cphm3.