Australia’s Lucapa Diamond (ASX: LOM) has recovered a 203-carat diamond at its prolific Lulo mine in Angola, the fifth-largest ever found at the operation.
The diamond is also the third 100-carat-plus stone found at Lulo this year.
The 203-carat diamond recovered at the Lulo mine. Credit: Lucapa Diamond
Lucapa said the high-quality, type IIa diamond was recovered during the processing of run-of-mine stockpiled ore and its recovery follows those of 162 and 116-carat diamonds on successive days last month.
The mine, which hosts the world’s highest dollar-per-carat alluvial diamonds, began commercial production in January 2015. Only a year later, it delivered the largest ever diamond recovered in Angola — a 404-carat white stone later named the “4th February Stone”.
Lucapa has a 40% stake in the Lulo mine. The rest is held by Angola’s national diamond company (Endiama) and Rosas & Petalas, a private entity.
Angola is the world’s fifth diamond producer by value and sixth by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully being liberalized.
Lucapa shares were down 4.7% to A10¢ on Thursday, valuing the company at A$27.6 million.
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