Lucapa Diamond Company Limited has reported on July 29th, 2024, the recovery of a 176-carat Type IIa diamond from its Lulo Alluvial Mine in Angola. This diamond is the fifth stone over 100 carats recovered by the Australian company this year, following the recovery of an impressive 195-carat Type IIa diamond in May.
The 176-carat diamond is the 45th diamond over 100 carats found at Lulo since alluvial operations began in 2015, making it the eighth largest discovered at the site. Large diamonds like this one have been a key source of revenue for the Lulo mine and have provided valuable data for Lucapa’s ongoing kimberlite exploration program.
Lucapa is actively searching for the primary kimberlite sources of these diamonds. The exploration program is currently conducting bulk sampling of kimberlites near the mining blocks where the 176-carat diamond was found. The diamond’s sharp, angular edges suggest it has not traveled far from its original source.
Nick Selby, Lucapa’s Managing Director and CEO, stated: «The recovery of this 176 carat diamond is yet more confirmation of the massive potential of the kimberlite province where we are focusing our exploration efforts to find the source(s) of these magnificent gems».
Recently, Lucapa has announced the successful sale of six diamonds from the same mine in a recent special tender, yielding a total of US$ 12.4 million (about 11.5 million €).
The parcel, comprising six diamonds with a combined weight of 447 carats, included five white Type IIa diamonds weighing 195, 89, 68, 51, and 28 carats, along with a 14-carat pink diamond. The average price per carat across the parcel was approximately US$ 27,700 (about 25,000 €), with the pink diamond achieving the highest price per carat.
The tender was conducted by Sodiam E.P. in Luanda, Angola. This sale underscores the high value and market demand for diamonds from the Lulo mine, reflecting the quality and rarity of the gems produced.
