Lucapa Diamond Company Continues to Unearth Extraordinary Diamonds at Lulo, Signifying Robust Growth and Unrivalled Potential
Lucapa Diamond Company Limited (ASX: LOM) today reaffirmed its position as a leading producer of high-value diamonds, announcing yet another significant series of recoveries from its flagship Lulo Diamond Project in Angola. This latest haul underscores the prolific nature of the Lulo concession, particularly with the discovery of both an exceptionally large diamond and a vibrant colored gem, further cementing Lulo’s reputation as a consistent source of top-tier diamonds on the global stage. The company’s strategic focus on discovering and recovering large, high-quality stones continues to yield impressive results, driving value for shareholders and highlighting the immense geological potential of its projects across Africa.
Remarkable Discoveries: A 116-Carat Giant and a Dazzling 43-Carat Yellow Gem
Among the recent spectacular finds, two diamonds stand out for their size and unique characteristics, both originating from Mining Block 8 at the Lulo Diamond Project. These discoveries exemplify the rich diamondiferous deposits present within Lulo, a project renowned for its consistent production of large and premium-quality stones that command significant attention in the global diamond market.
The 116-Carat Low-Quality Diamond: A Testament to Lulo’s Large-Stone Potential
One of the headline recoveries is a remarkable 116-carat diamond. While classified as a low-quality boart stone, typically used for industrial purposes rather than jewelry, its sheer size is of immense significance for the Lulo project. This diamond represents the tenth stone exceeding 100 carats recovered to date from Lulo, and impressively, the second such colossal diamond unearthed within the first three weeks of 2018 alone. This rapid succession of mega-diamond finds emphatically underlines the extraordinary large-stone nature and inherent potential of the Lulo diamond project. The presence of such massive diamonds, even those of industrial quality, provides crucial geological indicators and reinforces the project’s capacity to host world-class diamond deposits. Lucapa credits the state-of-the-art large-diamond recovery circuit, which was strategically installed at Lulo in late 2016, for the successful retrieval of this monumental stone, demonstrating the effectiveness of its advanced operational infrastructure and commitment to maximizing recovery yields.
The 43-Carat Yellow Gem: Lulo’s Largest Coloured Diamond to Date
Equally, if not more, captivating is the recovery of a stunning 43-carat yellow gem-quality diamond. This magnificent stone sets a new record for Lulo, becoming the largest coloured gem-quality diamond ever recovered from the project. It surpasses the previous record held by a 39-carat pink diamond, which was famously unearthed in September 2016. The discovery of such a vibrant and significant coloured diamond further diversifies Lulo’s impressive portfolio of finds and highlights the project’s ability to produce a wide spectrum of valuable diamonds.
Fancy coloured diamonds, especially those of considerable size and intense coloration like this 43-carat yellow, command premium prices in the global market due to their extreme rarity and unique aesthetic appeal. The demand for these exceptional stones remains robust among collectors and investors. This find not only adds substantial value to Lucapa’s current production but also significantly enhances Lulo’s reputation as a source of exceptionally beautiful and highly sought-after gemstones, distinguishing it as a truly unique diamond concession.
Lulo Diamond Project: A Consistent Source of World-Class Diamonds
The Lulo Diamond Project, a highly successful alluvial operation in Angola, has consistently demonstrated its capacity to yield extraordinary diamonds. Its track record includes the recovery of numerous large and high-value stones, establishing it as one of the world’s highest-average-value per carat alluvial diamond operations. This distinction is not merely coincidental; it stems from the project’s unique geological characteristics, particularly the presence of extensive gravel deposits rich in large diamonds, which strongly point towards a robust primary kimberlite source yet to be fully defined. Lucapa’s ongoing exploration efforts are strategically focused on identifying these primary sources, which could unlock even greater long-term potential for the company and provide a sustainable future for the project.
The continuous recovery of significant diamonds, including multiple stones exceeding 100 carats, is a testament to both the inherent richness of the Lulo concession and Lucapa’s expertise in diamond exploration and recovery. The company’s unwavering commitment to investing in advanced recovery technologies, such as the large-diamond recovery circuit, ensures maximum efficiency and the highest possible yield from its operations. This dedication to cutting-edge technology and geological understanding firmly distinguishes Lulo as a truly exceptional and high-performing diamond mining venture on the global stage, attracting attention from across the industry.
Strategic Growth and Regional Potential: The Mothae Kimberlite Mine in Lesotho
In a related development that further highlights the broader potential of its African operations, Lucapa extended its congratulations to the Government of the Kingdom of Lesotho and Letšeng Diamonds. Letšeng Diamonds, which is 70% owned by Gem Diamonds Limited, recently announced the recovery of a truly spectacular 910-carat diamond. This colossal gem is reported to be the fifth largest gem-quality diamond ever recovered globally, an astounding achievement that reverberated throughout the diamond industry. This remarkable find from the renowned Letšeng diamond mine resonates deeply with Lucapa’s strategic interests, particularly as the Letšeng mine is located within a mere 5 kilometers of Lucapa’s own 70% owned Mothae kimberlite mine in Lesotho.
The striking proximity of such a momentous discovery to Mothae provides significant validation of the geological prospectivity of the region as a whole, indicating the potential for similar world-class deposits within Lucapa’s concession. Mothae itself has a proven history of yielding impressive results. Earlier trial mining operations at Mothae conclusively demonstrated its capacity to be a source of large and premium-value diamonds, aligning perfectly with Lucapa’s core strategy of focusing on high-value diamond production. The success at Letšeng, a mine famous for producing exceptionally large and high-quality stones, further underscores the potential for similar world-class diamonds to be recovered from Mothae, enhancing its appeal as a future cornerstone asset for Lucapa’s portfolio.
Lucapa confirms that the development of Mothae remains firmly on track for commissioning in the second half of 2018 (H2 2018). This eagerly anticipated milestone will deliver Lucapa a second complementary high-value production source, strategically diversifying its operational footprint beyond Lulo. The addition of Mothae is expected to significantly bolster Lucapa’s overall production profile, increase its revenue streams, and strengthen its market position as a leading producer of large and valuable diamonds. This expansion is a key component of Lucapa’s long-term growth strategy, aiming to capitalize on proven diamondiferous kimberlite pipes in highly prospective regions and ensure sustained growth and profitability for years to come.
Lucapa Diamond Company: A Vision for High-Value Diamond Production
Lucapa Diamond Company’s consistent success in uncovering significant diamonds at Lulo, coupled with the imminent commissioning of its Mothae project, paints a compelling picture of a company poised for substantial growth and continued success. Its strategy revolves around identifying, exploring, and developing high-value diamond projects with a proven potential for large and premium-quality stones. This meticulously planned approach minimizes exposure to the more volatile lower-end diamond markets and maximizes returns by focusing on the lucrative segment of exceptional, often record-breaking, diamonds.
The company’s commitment to operational excellence, advanced geological understanding, and strategic project development positions it strongly within the global diamond industry. Lucapa continues to demonstrate its ability to not only discover but also efficiently recover diamonds that capture international attention and command top prices from buyers worldwide. As both Lulo continues its impressive yield and Mothae prepares to come online, Lucapa Diamond Company is set to solidify its reputation as a consistent and reliable supplier of some of the world’s most desired diamonds, promising exciting prospects for its stakeholders and the broader diamond market, reinforcing its position as a key player in the high-value diamond sector.
Image & Source Information
Image Caption: The magnificent 43-carat yellow diamond, proudly representing the largest coloured diamond recovered to date from the Lulo Diamond Project.
Image Courtesy: Lucapa Diamond Company Limited.
News Source: gjepc.org.