According to Lucapa, policy shifts in the southern African country allow management to plan for the sale of such high-value stones, something the company was not able to do before.
ANGOLA Mining News
The move makes the company the first mining major to request exploration permits in the country since President João Lourenço vowed to open up the sector and encourage foreign investment.
Diamond producer, ASX-listed Lucapa Diamond Company Limited (LOM) says the Company has begun to “shine bright” in the world of Special diamonds.
This time is a 114-carat white stone.
Production at Lucapa's 40%-owned Lulo project, in Angola, rose 20% during the June quarter.
Australia’s Lucapa Diamond (ASX:LOM) has found an 89-carat yellow diamond at its 70%-owned Mothae mine in Lesotho during the current bulk sampling program.
Lucapa has a 35-year license for Lulo, which early last year bore a 404.2-carat white diamond, considered the largest diamond ever recovered in Angola and the biggest diamond ever found by an Australian company.
President Joao Lourenço said changes aim at attracting more investment, increasing production and securing higher government revenue.
Stone was recovered from the Neck zone of the Mothae kimberlite, not part of the current one-million carat Joint Ore Reserves Committee-compliant resource.
The 46-carat pink diamond is the largest coloured gem-quality stone ever recovered at the company's Lulo project.
Figures takes proceeds from Lulo diamonds sales so far this year to $10.8 million, at an average price per carat of $1,731.
Angola is one of the world’s top 5 diamond producers, but much of the territory remains under-explored due to 27 years of civil war.
The Australian miner has also unearthed the tenth +100 carat stone recovered from Lulo since mining operations began two years ago.
Deal provides the diamond giant with access to a production base outside Russia.
The rival companies have unearthed three diamonds larger than 100 carats each.
It's the eighth diamond of over 100 carats recovered this year, and the seventh in just 2.5 years of commercial mining.
Discovered in February last year in eastern Angola, the 404.20-carat rough diamond was also the largest found so far in the southern African country.
Angola LNG said the deal was another step toward building its sales book with the most important players in the LNG market.
PJSC ALROSA, the world leader in diamond mining, will participate in the development of a new diamond deposit in Angola.
Here are the top 10 diamond mines in terms of output in carats and value.
A family-run Yorkshire firm has just dispatched its largest order – nearly three miles of hoses to a diamond mine in Angola.
Big, valuable gemstones that may eventually get cut into smaller diamonds keep getting discovered in Angola.
The project, which has existing infrastructure, a camp and a diamond processing plant in place, is located just 5km from Letšeng, the highest dollars-per-carat kimberlite diamond mine in the world.
The Africa-focused diamond miner said it expects to resume trading before the open on Tuesday next week.
The miner said the decision applies to the entire 3,000 square kilometer Lulo site, a project that has bored some massive gems, including the largest diamond ever found in Angola.