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.
Lucapa Diamond Mining News
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.
The 68.1-carat gem-quality diamond is one eight 'significant' rocks found from trial mining at a new area of the Lulo concession.
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,
It's the fourth largest diamond recovered at Lulo mine to date.