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.
Lucapa Diamond Mining News
Lucapa Diamond Company and the Government of the Kingdom of Lesotho (“GoL”) are pleased to provide an update on diamond recoveries from the ongoing bulk sampling program at the Mothae diamond mine in Lesotho (Lucapa 70%; GoL 30%).
The 11.88-carat diamond was recovered from the North zone of the Mothae diamond mine.
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.
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.
The largest diamond recovered in the first test run was 6.6 carats.
The Australian miner has also unearthed the tenth +100 carat stone recovered from Lulo since mining operations began two years ago.
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.
Over the last nine years 66 record-breaking and other noteworthy diamonds were recovered, and 61 of those have been found within the last five years.
Draft bill gives government first option to buy unusually large diamonds found in the country's mines, such as the world's second-biggest 1,109 carat diamond discovered by Lucara two years ago.
Lucara Diamond’s Lesedi La Rona is said to face challenges other rock never do, including its multi-million-dollar price tag and a risky polishing process that can take months or years.
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.
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.