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Lucapa Sells More from Lucrative Lulo Mine

May 18, 2016 11:12 AM   By Rapaport News
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RAPAPORT... Lucapa Diamond Company reported an average price of $1,150 (AUD 1,580) per carat from a sale of diamonds mined at Lulo in Angola, a frequent source of large diamonds.

The miner sold a parcel of 1,862 carats of alluvial diamonds from Lulo for $2.1 million.

Lucapa also said it recovered three more “special” stones from the site since the sale, weighing 60 carats, 35 carats and 21 carats. Last month, it unveiled an 88-carat and a 30-carat gem from the mine and in February sold a 404-carat stone – the largest in Angolan history – for $16 million.

The end of the Angolan wet season enabled Lucapa and its partners to resume alluvial mining at Mining Block 6 at Lulo. Initial recoveries include a 13-carat fancy yellow diamond (pictured) – one of the largest fancy-color gems found at the mine to date.

Separately, Lucapa said it appointed geologist Richard Barnes as general manager of the Lulo mine and finance and risk management veteran Johan van Wyk as finance manager.
Tags: Angola, lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Rapaport News, rough tenders
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