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Lucapa Diamond Company and its partners have announced the recovery of the 18th +100 carat white diamond by Sociedade Mineria Do Lulo (SML) from its Lulo alluvial mine in Angola.
The recovery of this second +100 carat diamond from Mining Block 46 (MB46), a 104 carat D colour white stone, so soon after the 113 carat D colour white stone, indicates the potential for these blocks as the company moves deeper into the southern terraces.
Source: miningreview.com
Lucapa Diamond Company and its partner, the Government of the Kingdom of Lesotho, have provided an update on the first sale of diamonds in 2021 from the Mothae kimberlite mine in Lesotho.
The parcel of 4,676 carats of rough diamonds were sold for a total of US$5.6 million or US$1,198 per carat. This is the highest average US$ per carat price achieved by Mothae on the sale of any run of mine production parcel.
The sale included a number of Specials (diamonds weighing >10.8 carats), including the 101 carat D colour diamond recovered following re-opening of the mine in Q4 2020, which is the most valuable diamond recovered to date at Mothae.
Lucapa MD, Stephen Wetherall comments:
“Following a tough 2020, where both of our mines were impacted by the pandemic, our valued teams have shown their resilience and operations have bounced back strongly.
“The good recoveries at both mines and growing demand leading to strengthening diamond prices has seen a strong start to 2021.”
“We look forward to Mothae receiving further value following implementation of the cutting and polishing partnership and to completing the expansion at Mothae this quarter.”
Source: miningreview
Lucapa Diamond Company has recovered the 16th 100 plus carat diamond from the Lulo alluvial mine in Angola, Africa.
The 127 carat gem quality white stone is the third 100 plus carat diamond delivered this year.
Lucapa recovered the stone from the flood plain area in Mining Block 24 the first 100 plus carat diamond produced in this mining block.
It was found during Lucapa’s dry season operations.
“The recovery of this 127 carat stone, which is Lulo’s 16th 100 plus carat diamond recovered, continues to showcase the exceptional nature of the lulo alluvial deposit and highlights the potential of the mining campaign planned for these previously untouched and expansive leziria areas along the Cacuilo River,” Lucapa managing director Stephen Wetherall said.
The discovery was preceded by a 46 carat pink coloured diamond recovered at the Lulo mine last week. It was cut and polished into three diamonds.
Meanwhile, the largest stone in carat found at Lulo was a 404 carat diamond the largest recorded gem in Angola, which was discovered in 2016.
Source: australianmining
Lucapa Diamond Company has pocketed a neat $9 million from the latest diamond sales from its Lulo alluvial mine in Angola.
The diamonds were sold through Lucapa’s partners, Empresa Nacional de Diamantes and Rosas & Petalas, for an average US$1550 per carat.
With 4269 carats sold, this brings the total proceeds from the sale to US$6.6 million.
Importantly, this sale price is higher than the year-to-date average of US$1371 per carat.
So far, Lucapa has sold just under 20,400 diamond carats over the 2020 calendar year for US$28 million.
Angola and Lesotho diamond exploration
Lucapa produces diamonds from both the Lulo mine in Angola and the Mothae kimberlite mine in Lesotho a small kingdom completely landlocked by South Africa.
The company faced some turmoil earlier this year when COVID-19 restrictions in Angola and South Africa dealt a blow to Lucapa’s operations.
Nevertheless, operations were back up and running at both mines soon after the end of the September quarter.
So far, Lucapa’s Lulo mine has produced 15 100 carat plus diamonds making it one of the highest dollar-per-carat alluvial diamond producers in the world.
At Mothae, Lucapa has produced over 30,000 carats of diamonds in just one year of production, with three diamonds at over 100 carats each.
Source: themarketherald
Australia’s Lucapa Diamond and its partners in Angola have sold $5.6 million worth of diamonds from the Lulo mine at their latest event, a fresh sign that the market is slowly improving.
The miner, Angola’s national diamond company (Endiama) and Rosas & Petalas sold 3,862 carats at an average price of $1,450 per carat. The figure took total sales of diamonds recovered so far this year at Lulo mine to 16,128 carats and $21.3 million.
“As foreshadowed, the strong operational performance and record diamond recoveries at Lulo in July and August, together with a recovering diamond demand positively impacting prices, should bode well for Lulo in H2 2020,” Lucapa’s managing director Stephen Wetherall said.
Global demand for all types of diamonds fell between 2018 and 2019, affecting small stones producers the most, due to an oversupply in that segment that dragged prices down.
Increasing demand for synthetic diamonds also weighed on prices. Man-made stones require less investment than mined ones and can offer more attractive margins.
Just when the market seemed to have bottomed out, it was hit in March by the coronavirus pandemic. Its rapid spread forced some mine shutdowns and limited mobility of potential buyers, painting a bleak picture for even the largest diamond miners.
Conditions since have improved and De Beers, the world’s largest diamond producer by value, was the first major producer to come out with good news. It said earlier this month it had made about three times as much in sales of roughs in the seventh sales cycle of the year as it did in the previous event.
The Anglo American unit, which sells diamonds to a handpicked group of about 80 buyers 10 times a year at events called sights, sold $320 million worth of rough diamonds in the seventh cycle. That compares to the $116 million fetched in the previous sight and is not far behind the $400 million De Beers sold on average each month last year.
Angola’s diamond push
Lucapa’s improved sale also come in the midst of Angola’s fresh attempts to boost its local industry. The West African nation is the world’s fifth diamond producer by value and no.6 by volume.
According to official figures, however, only 40% of Angola’s kimberlite has been discovered.
The country’s industry, which began a century ago under Portuguese colonial rule, is successfully being liberalized.
Last year, Angola held its first public diamond auction and since then, producers no longer have to sell at below-market prices to a handful of buyers favoured by the state.
Endiama revealed in February it was seeking international partners in an attempt to place Angola among the world’s top-three diamond producers.
The country currently has 14 diamond mining projects, with the largest being the Catoca mine, which produces 61% of the country’s output.
Catoca is also the world’s fourth-largest diamond mine in the world. It is owned by a consortium of international mining interests, including Endiama, and Russia’s Alrosa.
Source: Mining.com
African miner Lucapa Diamond Company said yesterday its latest sales of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho totaled $10.4 million.
Year to date sales are $45.9 million.
The average price per carat is $1,087 at the Lulo Mine. Excluded from the figures is a 46-carat pink diamond, which has been exported by SML to Antwerp and is being assessed for polishing.
At the Mothae Mine, the average price per carat was $837. The mine began operations in January. The company said the mine has already recovered seven +50 carat diamonds.
Lucapa Diamond is focused on becoming a producer of large and premium-quality diamonds from alluvial and kimberlite sources.
In 2019 to date, Lucapa has sold a total of $26.5 million worth of Lulo diamonds
Lucapa, which owns and operates the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho, sold a parcel of 3,558 carats of Lulo diamonds for $4.4 million in its latest sale – a whooping $1,234 per carat, according to IDEX Online. In 2019 to date, Lucapa has sold a total of $26.5 million worth of Lulo diamonds ($2,764 per carat).
Lucapa also reported selling a parcel of 4,376 carats of Mothae diamonds for $1.8 million. These figures bring sales of diamonds from Lulo mine in Angola and the Mothae kimberlite mine in Lesotho to $35.5 million in 2019 to date.
Earlier this week, Lucapa announced the recovery of a top-color, exceptional 64-carat diamond from its Mothae mine in Lesotho. According to Lucapa MD Stephen Wetherall, the Type IIa D-colour stone “is considered to be the best individual diamond recovered to date from the Mothae mine”.
Source: Israelidiamond
Lucapa Diamond Company will sell six large stones weighing a total of 449 carats from its Lulo mine in Angola after an overhaul of the nation’s mining laws prompted it to delay the sale, it said.
The Angolan government introduced reforms to its diamond sector in the first half of the year to help boost foreign investment. Those measures included a new marketing policy for Angolan diamonds, and the option of offering goods for sale in locations such as Antwerp.
Anticipating the changes, Lucapa has been holding back a selection of large stones from previous sales, and will now sell them under the new policy, it explained Friday. These include six type IIa white diamonds weighing 114 carats, 85 carats, 75 carats, 70 carats, 62 carats and 43 carats, as well as a 46-carat pink diamond.
“The discussions with our Angolan partners regarding the policy changes taking place in the Angolan diamond sector have reached a stage where we are now able to plan for the sale of these large, premium-value Lulo diamonds held over from previous sales,” Lucapa managing director Stephen Wetherall said. “We look forward to marketing these exceptional diamonds as soon as the necessary arrangements are put in place to continue showcasing Angolan diamonds to the world.”
The decision to delay the tender for those stones had a negative impact on Lucapa’s first-half results, the company added. Its losses grew to $4.6 million for the period, versus a loss of $1.2 million a year earlier.
Even so, Lucapa’s sales rose 3% year on year to $15.9 million in the first half, while production for the same period climbed 15% to 9,566 carats. The average price of rough diamonds from Lulo rose 1% to $1,642 per carat. Rough-diamond inventory from the asset grew 61% year on year to 2,755 carats as of June 30, the miner reported.
Lucapa’s most recent sale of 2,531 carats of rough from Lulo fetched $2.5 million, achieving an average price of $985 per carat, the company noted.
Image: 46-carat pink Lulo diamond. Credit: Lucapa.
Source: Diamonds.net
Lucapa Diamonds said it had made USD $2 million after selling rough diamonds recovered at its prolific Lulo mine in Angola.
Sale has taken gross sales proceeds from the Angola based mine so far this year to $15.9 million.
Empresa Nacional de Diamantes and Rosas & Petalas, Lucapa all partners in th emine have sold 1,782 carats at an average price of $1,150 per carat.
The mine is located 150km from Alrosa’s Catoca mine the world’s fourth largest diamond mine, hosts type 2a diamonds which account for less than 1% of global supply.
Angola is now the world’s forth largest diamond producer by value and sixth by volume.
Australia’s Lucapa Diamond has announced workers at its 70% owned Mothae mine in Lesotho have recovered diamonds sourced from residual material and kimberlite stockpiles.
The company said the rough diamonds were recovered through the existing bulk sampling plant and infrastructure at Mothae, which has been refurbished ahead of schedule as part of a previously announced bulk sampling program.
According to the statement the largest rough diamond recovered in the test run is 6.6 carats.