Archive

  • The impressive rough diamond recoveries by Australian miner Lucapa Diamond Co. from the Lulo Diamond Project in Angola continue at pace, with the latest recoveries including a 116-carat low-quality diamond and a 43-carat yellow gem. The 43-carat yellow is the largest colored gem-quality diamond recovered to date from Lulo, surpassing the 39-carat pink recovered in September 2016. Both stones were unearthed from Mining Block 8 at Lulo. The 116 carat stone was recovered through the XRT large-diamond recovery circuit installed at Lulo in late 2016.

  • Lucapa Diamond Company Ltd. has announced the recovery of rough diamonds weighing 103 carats and 83 carats, both of which were recovered from Mining Block 8. The 103 carat light brown diamond and 83 carat Type IIa diamond, the company says, "continue to evidence the special nature and potential of the Lulo resource." The 103-carat diamond is the 9th +100 carat diamond recovered to date from Lulo, the largest being the Angolan record 404-carat 4th February Stone which sold for US$16 million in 2016.

  • Australia's Lucapa Diamond Co. and its Angolan partners, Endiama and Rosas & Petalas, have decided to schedule the next diamond sale for early 2018. The timing of this sale is designed to maximise sale proceeds by selling into a usually stronger demand period at the beginning of the year. The next sale parcel of alluvial diamonds from the Lulo Diamond Project in Angola will total 2,160 carats. This includes the exceptional 129 carat and 78 carat Type IIa D-colour Lulo diamonds recovered from Mining Block 6 in November 2017.

  • Lucapa Diamond Company and its partners, Endiama and Rosas & Petalas, have completed their eighth sale in 2017 of alluvial diamonds from the Lulo Diamond Project in Angola, earning gross proceeds of US$7.3 million (A$9.6 million), representing an average price per carat of US$1,770 (A$2,332) from 4,126 carats. The latest sale brought gross proceeds from Lulo diamond sales to date in 2017 to US$31.6 million at an average price per carat of US$1,668. 

  • The largest-ever D-flawless diamond to be put up for auction, mounted in a diamond and emerald necklace, sold for $33.7 million Tuesday night, including buyer’s fees. The white “Creation 1” diamond from Swiss jeweler de Grisogono weighs 163 carats. The hammer went down at 29.5 million Swiss francs ($29.7 million), excluding the buyer’s premium — around the midpoint of the pre-sale estimates before the auction at Christie’s in Geneva. The buyer was not immediately identified.

  • Australian junior miner Lucapa Diamond Company and its partners, recovered a 129.58 carat rough diamond from the Lulo Diamond Project in Angola, the eight stone above 100 carats since commercial production started in 2015.

  • Lucapa Diamond last week adopted a new development plan for the high-value Mothae kimberlite diamond project that foresees increases in targeted production, cash flows and mine life. The improvements to targeted production and cash flows include: a 22% increase in diamond production to 498k carats, a 30% increase in kimberlite material mined to 25 million tons and a 12% increase in mine life to 13.5 years.

  • Australian junior miner Lucapa Diamond Company today announced it has secured $15 million in debt financing to bring its high-value Mothae kimberlite diamond project in Lesotho into production in 2018. The secured US$15 million three-year debt facility has been arranged with private Singaporean company Equigold. It is repayable in eight quarterly payments commencing December 2018, by when Lucapa expects Mothae to be in steady state production under its Phase 1 development plan.

  • Independent analyst and consultant on diamonds and the mining industry, and publisher of the Zimnisky Global Rough Diamond Price Index, Paul Zimnisky has published an in-depth article, "The Discovery of Newsworthy Diamonds is Increasing", analysing the rise of noteworthy diamond recoveries in the past five years in particular. Reprinted from Paul Zimnisky Diamond Analytics, courtesy of Paul Zimnisky.

  • Australian junior miner Lucapa Diamond Company has completed the seventh sale for 2017. The company earned US$7.4 million from the tender of 3,214 carats of rough alluvial diamonds from the Lulo Diamond Project in Angola. This represents an average price of $2,298 per carat, and brings gross proceeds from Lulo diamond sales in 2017 to US$24.3 million, for an average of US$1,640 per carat. The company notes that diamond recoveries and grades have improved at Lulo since the return to the high-value Mining Block 8 and 6 areas, after the Angolan wet season.

  • Australian junior miner Lucapa Diamond Company earned US$1.5 million from the sale of 2,070 carats of rough alluvial diamonds from the Lulo Diamond Project in Angola during the sixth sale of 2017. This represents an average price of US$710 per carat, and brings gross proceeds from Lulo diamond sales in 2017 to US$17 million, for an average price of US$1,485 per carat. The company notes that diamond recoveries and grades have improved at Lulo since the return to the high-value Mining Block 8 and 6 areas, after the Angolan wet season.

  • Australia's Lucapa Diamond Company reports that production and sales of diamonds from the Lulo Diamond Project in Angola jumped 63% and 58% respectively in the second quarter of 2017. Lulo alluvial mining company, Sociedade Mineira Do Lulo (Lucapa is 40% owner and operator) produced 4,203 carats of diamonds during the quarter, bringing their total for the first half of 2017 to 8,301 carats, a 46% overall increase compared to the year prior. In Q2, the 4,203 carats were obtained from 3,336 stones, with their average weight holding steady at 1.3 carats. 

  • Australian junior miner Lucapa Diamond Co. earned US$0.95 million (A$1.25 million) from a parcel of 1,236 carats at their fifth sale in 2017 of rough diamonds from the Lulo Project in Angola. This represents an average price of US$770 (A$1,013) per carat, and brings their total 2017 sales to US$15.4 million (A$20.3) at an average price of US$1,620 (A$2,132) per carat. 

  • Lucapa Diamond Company secured $14.2 million (AUD $19 million) in funding for the acquisition and advancement of the high- value Mothae Kimberlite Diamond Project located in the southern African country Lesotho. The funding sets Lucapa on track to commence commissioning Mothae in the first quarter of 2018 under a staged, low-risk development plan.

  • Lucapa Diamond Company completed it’s fourth sale in 2017 from the alluvial diamonds from the Lulo Diamond Project in Angola, achieving an additional $1.3 million in revenues. The miner sold 1,878 carats at an average price of $695 per carat, lower than the $1,317 average the previous month. The latest sale brings total proceeds from the Lulo diamond sales in 2017 to $14.5m, reaching an average of $1,747 per carat.

  • Australian junior miner Lucapa Diamond Co. reported a significant increase in diamond recoveries and processing from their Lulo Diamond Project in Angola in the March quarter of 2017, according to an ASX announcement. Lulo alluvial mining company, Sociedade Mineira Do Lulo (40% owned and operated by Lucapa) achieved record throughput volumes of 70,967 bulk cubic metres in Q1, a 91% increase over the same period a year prior. The increased processing resulted in a 33% increase in diamonds recovered to 4,098 carats.

  • Australia's Lucapa Diamond Co. is ramping up kimberlite exploration efforts at its primary resource, the Lulo alluvial mining project in Angola. The company has fully commissioned a new high-capability Hanjin D&B drilling rig, with which they will start drilling priority targets as part of the kimberlite exploration program. The rig is one three that will be drilling kimberlite through the June 2017 quarter when the Angolan wet season ends, typically in April. The aim is to identify the kimberlite source of their high-value diamonds frequently recovered at the Lulo alluvial project.

  • Lucapa Diamond Company has posted a maiden JORC resource estimate for the Mothae Kimberlite Diamond Project located in the southern African country Lesotho, and has updated its JORC diamond resource for the Lulo Diamond Project in Angola. The maiden Mothae JORC estimate is over one million carats of diamonds with an average modelled value of $1,063 per carat, while the Lulo report notes a 10% increase in volume over the

  • The Lulo alluvial diamond venture in Angola has declared US$8 million in a combined distribution and capital repayment, and Lucapa Diamond - as operator and funder of both the Lulo alluvial mining and kimberlite exploration programs – will be entitled to receive a gross amount of US$5.6 million (A$7.3 million), the company writes in an ASX statement.

  • Lucapa Diamond Co. and its partners Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas have announced the results of their second rough diamond sale from the Lulo Project in Angola: The parcel of 1,552 carats achieved gross sale proceeds of US$6.9 million (A$9.1 million). This represents an exceptional average price per carat of US$4,446 (A$5,836), bringing the total gross proceeds achieved at Lulo to date in 2017 to US$10.7 million (A$14.0 million). Lucapa has thereby reached the A$100 million ($75 m) milestone from sales of Lulo diamonds.

  • Lucapa Diamond Co., the Australian miner with its main operations at the Lulo Diamond Project in Angola, hqs confirmed recovery of a high-quality (Type IIa, D color) 227-carat diamond. It is the second largest diamond recovered to date at Lulo, following the recovery of a 404-carat stone a year ago. The latest diamond was recovered using Lucapa's new XRT large diamond recovery circuit recently installed at Lulo, and derived from its new Mining Block 28. It is the 7th +100 carat diamond recovered to date at the project.

  • Australia's Lucapa Diamond Company, whose main asset is the Lulo diamond project in Angola, has sold a parcel of 2,946 carats of Lulo diamonds earning gross proceeds of US$3.8 million (A$4.9M). This represents an average price per carat of US$1,276 (A$1,671), a far cry from their $2,983 per carat average from the fourth quarter of 2016. The sale comprised diamond recoveries through December 31 2016, and included a 75-carat diamond and a 55-carat diamond.

  • Australia's Lucapa Diamond mining company has made 70 percent acquisition of the high-qualiy advanced stage Mothae Kimberlite project in Lesotho for US$9 million dollars, the company reports. This comes after the Government of the Kingdom of Lesotho awarded the advanced Project to Lucapa following a competitive international tender process. Mothae has existing infrastructure and camp in place including a diamond processing plant, which Lucapa says should enable it to bring the mine into production within 12 months under staged low-risk development strategy.

  • Australia's Lucapa Diamond Company has been granted a trading halt by the ASX pending the finalisation of negotiations to acquire a diamond mining project. The company expects to return to the market before the open on Tuesday next week, “pending the finalisation of negotiations”. Lucapa is focused on the development of its Lulo diamond project in Angola, which has already yielded impressive results. The company has recovered gems of significant carat from Lulo but is focused on finding the primary source of the alluvial diamonds.

  • Australia-based Lucapa Diamond Company Limited has successfully defined a series of priority lamproite and kimberlite drilling targets at the Brooking Diamond Project in Western Australia and the Orapa Area F Diamond Project in Botswana, according to their ASX announcement. At Brooking, EM surveys have identified lamproite drilling targets in areas where diamonds and lamproite indicator minerals were recovered in sampling programs, while at Orapa Area F, a coincident magnetic/EM/gravity target has been defined within one of the world's most prolific diamond fields.

  • Australia's Lucapa Diamond Company Limited has announced that diamond production in the December 2016 Quarter from the Lulo Diamond Project in Angola was 5,313 carats, an increase of 147% on the corresponding quarter in 2015 and also the highest quarterly production achieved during the Angolan wet season. For the year, Lucapa's production was up 136%, from 8,394 to 19,833 carats recovered.

  • The Angolan Minister of Mines and Geology has formally approved a new kimberlite exploration licence for the Lulo Diamond Project - known for yielding large, type-IIa diamonds, which account for less than 1% of global supply - operated Australian diamond miner Lucapa. The new kimberlite exploration licence is for a period of five years and covers the entire 3,000 square km concession.

  • Lucapa Diamond Co., the Australian miner operating their main resource at the Lulo Project in Angola, has annouced their largest single sale of rough diamonds to date: $8.3 million from the sale of parcel of 1,864 carats, representing an average price per carat of $4,452. This is more than was achieved during the entire final quarter of 2015, where three sales tallied $8.1 from three sales, and is equivalent to 65% of the company's entire revenue in 2015. Including this sale, the year-to-date sales of Lulo diamonds now sits at $44.8 million at an average price per carat of $3,132.

  • Following their announcement earlier this month about achieving record levels of rough diamond production at their Lulo Diamond Project in Angola in Q3 of 2016, Australia's Lucapa Diamond Co. has now announced corresponding record levels of sales during the same period. Sales of 12,438 carats during the three-month period represent a 206% jump in Q3 2016 compared to 2015, while the value of those sales rose 1,343%, from $716,551 in 2015 to over $10.3 million in 2016.

  • Lucapa Diamond Company, the Sydney-listed diamond producer and exploration firm, had started commissioning the modules for the new state-of-the-art XRT processing and recovery stream, a move they announced last summer. The he XRT technology and larger screens (55 mm) recovery and sorting solution will allow recovery of diamonds of up to 1,100 carats. This is the same technology Lucara Diamond used to recover the 1,109-carat Lesedi La Rona.

  • Australian miner Lucapa Diamond Co. is planning two diamond sales in the December quarter as recoveries of large specials from its Lulo Diamond Project in Angola continue at pace. The next sale, featuring Type IIa D-color diamonds weighing 172 and 104 carats recovered in September, is scheduled for mid-November.

  • West Australian-based international diamond miner Lucapa has taken up the search for yellow diamonds in the West Kimberley lamproite province in Western Australia with a Heads of Agreement (HoA) to acquire 80% of Leopold Diamond Co's Brooking Diamond Project. It will pay $A140,000 cash (US$105,128) plus 250,000 fully-paid ordinary shares and 500,000 Lucapa options exercisable at 53c (representing a 50% premium to the Lucapa share price at the time of signing the HoA). The Brooking Diamond Project comprises two exploration licenses covering 128 sq.km. 

  • Continuing a year of impressive results, Lucapa Diamond Company has reported record diamond production in Q3 2016 from the Lulo Diamond Project in Angola. Sociedade Mineira Do Lulo (SML) produced 8,853 carats from its alluvial operations in the September quarter, a 154% increase over the same period in 2015. This puts YTD production at 14,521 carats, a 233% increase over the first nine months of 2015. Q3 production also included a record number of 'specials' (+10.8 carats), with 137 stones combining for 3,210 carats.

  • Just a week after finding a 104-carat Type IIa, D-color diamond which was the fourth stone over 100 carats discovered this year, Lucapa Diamond Co. Ltd., an ASX-listed Australian company based in Perth, has uncovered an even bigger exceptional diamond from its Lulo Project in Angola. Lucapa said it unearthed 172.67-carat Type IIa, D-color stone. It is the fifth 100+ carat diamond found at the mine this year, and the sixth this year.

  • Lucapa Diamond Co. Ltd., an ASX-listed Australian company based in Perth, has uncovered yet another exceptional diamond from its Lulo Project in Angola and believes it is closing in on the original source of the gem. The 104-carat Type IIa, D-color diamond is the fourth stone over 100 carats Lucapa has found this year and the fifth overall.

  • Lucapa Diamond Company and its partners, Angolan state-owned diamond miner Endiama and Rosas & Petalas, say that alluvial mining operations at the Lulo mine in Angola are proceeding ahead of plan. Lucapa said the recent investment in earth-moving vehicles and equipment saw Lulo achieve record monthly processing volumes in August. Diamond production for August was 2,882 carats, the second-best month on record. The August production included 39 special diamonds – stones weighing 10.8 carats and more – up to 80.5 carats in weight.

  • Australian explorer, the Lucapa Diamond Company, has discovered another multi-million dollar, pink diamond at its Lulo project in Angola. The 38.6-carat stone is the largest colored diamond recovered to date from Lulo, handily beating the 28.5-carat light pink diamond the company sold earlier this week. That stone was sold in a parcel of other diamonds for a total of $5.8 million. Lucapa's latest find has not yet been valued.

  • Lucapa Diamond Company, the Australian diamond miner operating at the Lulo Diamond Concession in Angola, sold a 3,642-carat parcel of alluvial diamonds for gross proceeds of US$4.4 million (A$5.8 million), representing an average sale price of US$1,212 (A$1,606) per carat.

  • Lucapa Diamond Company, the Australian diamond miner operating at the Lulo Diamond Concession in Angola, announced a series of production records achieved in July 2016, most notable among which is the recovery of more (59) special diamonds ( >10.8 carats) in one month than in the entire previous half year (53). This led to a record-breaking total recovery of 3,164 carats for the month, and their largest single-day total (448 carats) ever. This banner month was possible owing to a record diamond grade of 15 carats per 100 cubic meters.

  • Lucapa Diamond Company, the Sydney-listed diamond producer and exploration firm, is in discussions to increase its stake in its 40%-owned Lulo diamond mine in Angola, reports Miningmx. Stephen Wetherall, CEO of Lucapa, said discussions were underway with partners Rosas e Petalas, a private Angolan company which has a 28% stake in the mine, and Angola’s state-owned diamond company, Endiama (32%). Endiama is considering either a cash sale for part or all of its stake, or a swap of its stake for equity in Lucapa Diamonds.