Archive

  • 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.

  • How does one cut a massive, 404-carat diamond? James Tarmy of Bloomberg discusses the strategy behind cutting the 404-carat diamond that Lucapa Diamond discovered in Angola’s Lulo mine, making it the largest diamond ever found in Angola. It is also the 27th biggest recorded diamond in the world and the biggest diamond ever discovered by an Australian company.

  • The Telegraph writes, "Uncertainty caused by Brexit has not put off Lucapa Diamonds from sounding out investors about a listing on Aim in London.

  • Australian miner Lucapa Diamond Company has announced the commencement of its kimberlite drilling program at its Lulo Diamond Project in Angola. The, "Drilling of high-priority kimberlite targets," says the company, aims "to identify the primary source or sources of the large, high-value alluvial diamonds being recovered from Lulo. The first target to be drilled takes aim at the hopeful source of the Angolan record 404-carat Type II D-color diamond that earned $16 million (AUD 22.5 million) in February. The program is scheduled to continue through 2016.

  • The largest diamond found in more than a century has been put on display at Sotheby's Bond Street headquarters in London ahead of it going under the hammer on June 29. The tennis ball size Lesedi la Rona, which weighs in at 1,109 carats and was found at Lucara Diamond Corp's Karowe mine in Botswana last November, is expected to sell for around $70 million. Reports suggest that the Lesedi la Rona, which translates as 'our light' in the Tswana language, has the potential to produce the largest top-quality diamond that has ever been cut and polished.

  • Australian miner Lucapa Diamond Company sold a parcel of 1,862 carats of alluvial diamonds from its Lulo Diamond Project in Angola for $2.1 million (A$2.9 million), reporting an average price of $1,150 (A$ 1,580) per carat. Since this lastest sale, further large 'specials' (diamonds weighing more than 10.8 carats) recovered from trial mining include diamonds weighing 60 carats, 35 carats and 21 carats.

  • Lucapa Diamond Company has announced the creation of Sociedade Mineira do Lulo (SML), a new company which will now hold the Lulo alluvial diamond mining license in Angola. Lucapa owns 40% of SML, with Angolan national diamond company Endiama having a 32% stake and privately-held Rosas & Petalas owning the other 28%. In addition, Lucapa also said it would invest $7 million in an upgrade and development plan for Lulo, including new Caterpillar earth-moving equipment, vehicles for both the alluvial diamond mining and kimberlite exploration programs and camp upgrades.

  • Swiss jeweler De Grisogono SA has acquired the rights to market a 404-carat rough diamond which it bought from Dubai trader Nemesis International DMCC. The giant diamond was discovered by Lucapa Diamond Co at its Lulo mine in Angola. Nickolas Polak, a director of Nemesis International, declined to disclose the price for which the stone had been sold, but in February Lucapa said it sold the 404-carat diamond for $22.5 million, Bloomberg reported.

  • Lucapa Diamond Company (Australia) has announced the recovery of more large gem-quality diamonds during trial mining of the E46 alluvial terraces at its Lulo project in Angola. The latest three specials (diamonds +10.8 carats) include two high-color white Type IIa diamonds weighing 88 and 30 carats. It also states that more than 30 percent of the diamonds above 1-carat recovered in the E46 project are Type IIa, a rare category of diamonds that are almost, or entirely, devoid of nitrogen impurities, and are considered the highest level of purity in a rough diamond.

  • Record diamond production, including the largest diamond ever found in Angola, has generated the Lulo diamond partners gross revenue of $23M (A$32.5M) in Q1 2016, "underlining the strong global demand for large top-tier gems." Lucapa Diamond Co says the result was on diamond sales of 1,931cts at an exceptional average selling price of US$11,983ct (A$16,831ct), which included the $16M (A$22.5M) sale of the 404-carat Lulo gem - the largest recoded diamond ever recovered in Angola.

  • Lucapa Diamond Company has discovered a 68.1-carat Type IIa D color diamond at trial mining operations at a new area within its Lulo operation in Angola. The miner said that the gem was among eight special diamonds recovered during a trial mining operation at the E46 alluvial terraces which is about 10 km upstream from the alluvial Mining Block 8 and 6, from which Lucapa has been producing diamonds.

  • Lucapa Diamond Co. is using part of the proceeds from the sale of large diamonds it has found in alluvial mining in Angola to finance the hunt for the kimberlite pipes from which the gems have originated. The diamond explorer is using its share of the $16.7 million received from the sale of a 404-carat stone sold last month to track the source of their finds.

  • Lucapa Diamond Co. has announced the sale of another 1,349 carats of diamonds from the Lulo Diamond Project in Angola for $6.8 million (A$9.6 million). This follows the sale of the record-setting 404 carat diamond that sold for $16 million (A$22.5) just a few days ago. The latest sale brings the total number of carats sold in the March 2016 quarter to 1,931, earning the company gross revenues of $23.5 million (A$32.5 million).

  • Lucapa Diamond Company discovered the 404-carat diamond at its Lulo diamond project in Angola's Lunda Norte province. "This represents a spectacular average price of A$55,585 (US$39,580) per carat, which is a record price for a white diamond recovered from Lulo and is further evidence of the positive sentiment in the market for large high-quality gems like those being recovered at Lulo," Lucapa said in a statement. Lucapa has a 40% stake in the project while state-run company Endiama owns 32%, and private local company Rosas and Petalas owns the rest.

  • After a week of speculation and a temporary suspension of trading in the company's securities, Lucapa Diamond Company announced the discovery of the biggest recorded diamond in Angola, confirmed as a Type IIa D-color gem-quality stone. The 404-carat diamond from the Perth-based company’s Lulo project is also the 27th biggest recorded diamond in the world and the biggest diamond ever discovered by an Australian company. Lucapa has not yet valued the diamond, but recent sales of large special diamonds suggest it could be worth more than $20 million.

  • The Australian reports that a rather unusual move has speculators wondering whether Lucapa Diamond Company (Australia) may have recovered its largest diamond yet, as the miner entered a trading halt on Friday pending a “diamond update” from the project. Lucapa has developed a reputation for unearthing large, high-quality diamonds from its Lulo project in Angola.

  • Lucapa Diamond Company has discovered two more large stones at its Lulo project in Angola, weighing 120.4 carats and 86.2 carats respectively. They are both Type IIa, with the larger stone being a D color and the smaller one being E color. The diamonds are the latest in a series of discoveries of large diamonds at the mine in recent months, The largest stone ever recovered at the mine was a 133.4-carat diamond found in January.

  • Lucapa Diamond Company has discovered a 133.4-carat diamond at its Lulo project in Angola. The miner said it also found other stones weighing 29.2 carats, 12.37 carats and 11.1 carats – while processing 15,000 cubic meters of alluvial gravels from mining blocks six and eight. The 133.4-carat diamond is the largest diamond recovered to date at Lulo, slightly larger than the 131.4-carat D-color Type IIa diamond recovered from bulk sampling nearly four years ago.

  • Lucapa Diamond Company, which operates the Lulo alluvial diamond project in Angola, recovered 28 specials – diamonds weighing more than 10.8 carats – during the final quarter of last year, the firm said in an update. The two largest diamonds weighed 74.5 carats and 66.3 carats. In addition, three diamond sales were completed during the fourth quarter with gross revenues of $5.6 million, which is the highest quarterly sales figure the miner has recorded.

  • Lucapa Diamonds (Australia) sold its seventh parcel of diamonds from the Lulo Project in Angola for a gross revenue of US$1.5 million. The parcel comprised 1,339 carats of Lulo alluvial diamonds, representing an average selling price of US$1,120 per carat. The latest sale brings the total proceeds to from the sale of seven parcels weighing 9,377 carats to US$14.4 million, for an average selling price of US$1,532 per carat. As with previous diamond sales, Lulo will use the latest proceeds to fund ongoing operations at Lulo.

  • In a statement to investors, Lucapa Diamond Co. - based in Perth, Western Australia, and listed on the ASX - announced the recovery of 14 more “special” diamonds, including a 74.5 carat stone, from ongoing mining and treatment at Block 8 on the Lulo diamond project in Angola. All diamonds were greater than 10.8 carats, while the 74.5 carat diamond was confirmed as Type IIa D-colour stone and the fourth biggest stone recovered to date at Lulo.

  • Lucapa Diamond Company has been stealing the headlines recently with 90-carat Type IIA stones, fancy pinks and yellows, an average price of $1,667 per carat and soaring stocks, and now it has announced that it has identified confirmed kimberlite (L259) next to a world-class diamond field at Lulo in Angola.

  • With the Lucapa Diamond Company reporting the discovery of 22 large diamonds weighing in excess of 10 carats since August, and the latest one last week weighing just over 90 carats, its managing director Miles Kennedy tells The Australian about the its Lulo project in northern Angola. “The diamonds we are finding in these (alluvial) river beds are the best diamonds the world has ever seen. There is no exception. We are getting pinks and yellows and Type-IIa whites, the finest white diamond you can get,’’ Kennedy explained.