In 2021, Lucapa introduced a 35% enhance within the useful resource carats at Lulo. The mine’s in-situ useful resource now sits at 135,900 carats at a modelled common diamond worth of $1,440/carat.
The continuous restoration of those and different giant, high-value diamonds has been a significant income for Lulo over time – in December 2023, Lucapa fetched $17 million from 4 diamonds recovered from Lulo – in addition to being a significant informant to the kimberlite exploration program.
Lucapa continues to hunt for the supply of those giant gems by way of the kimberlite exploration program, which is presently bulk sampling in shut proximity to the mining blocks the place the 176-carat diamond was recovered.
“The restoration of this 176-carat diamond is but extra affirmation of the large potential of the kimberlite province, the place we’re focusing our exploration efforts to search out the supply(s) of those magnificent gems,” Lucapa’s CEO Nick Selby stated in a information launch.
As will be seen from the picture above, “the diamond has not travelled far because it nonetheless shows sharp, angular edges,” Selby added.
The agency has a 40% stake in Lulo, which hosts the world’s highest dollar-per-carat alluvial diamonds. The remaining is held by Angola’s nationwide diamond firm (Endiama) and Rosas & Petalas, a personal entity.