Big, valuable gemstones that may eventually get cut into smaller diamonds keep getting discovered in Angola.
ANGOLA Mining News
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.
The stock jumped after it announced it had fetched $8.3 million for 1,864 carats of rough diamonds from its Lulo project.
Large-carat diamonds just keep coming.
The 38.6-carat coloured stone is the largest “fancy” pink diamond recovered to date from Lulo.
The mine hosts type-2a diamonds which account for less than 1% of global supply.
The 68.1-carat gem-quality diamond is one eight 'significant' rocks found from trial mining at a new area of the Lulo concession.
Australian company says extremely rare Type 2a D-colour stone is the biggest diamond ever found in Angola.
The company has officially shifted operations at its flagship Udachnaya mine from open-pit to underground mining.
The Russian company, hit by a sustained slowdown in the diamond market, said its rough diamond have declined by 6% in the first six months of the year.
It's the largest diamond Lucapa has recovered in Lulo since the mine began commercial operations in January.
In a first phase the miner plans to target high-grade diamond ore bodies, meeting a target of 14,000 bank cubic metres (bcm) per month.
The project could prove to be more valuable than the country’s biggest gem producer, Catoca,
Researchers also found evidence of dinosaurs and large crocodiles dating to 118 million years ago.
In the 30 years Rio Tinto's Argyle Pink Diamonds have been tendering the rare gems, only 13 red diamonds have been brought in.
The world's largest diamond miner by market value said it will adopt a more flexible sales approach.
Sector now delivering some of the healthiest returns for many of the world’s biggest miners, including Rio Tinto and Anglo American.
De Beers, the world's largest diamond miner by market value, is also bracing for a rough diamond demand rush.
Lucapa Diamond has got a two-year extension for its Lulo Diamond concession in Angola, granted by said the country's Ministry of Geology and Mines.
De Beers' explored for diamonds in the Southern African nation between 2005 and 2012, but relinquished its concession after finding no economically viable project.
The diamond giant expects to secure exploration rights in Angola before the end of the year.
It will connect the landlocked country's vast copper mines to the Atlantic coast.
Study also says that Myanmar is the country where the business environment improved the most last year.