Lucapa Diamonds recovers two diamonds of over 100 ct

Lucapa Diamond Company and its partners Endiama and Rosas and Petalas, have recovered two diamonds of over 100 ct each from the terraces of Mining Block 46 at the Lulo mine, in Angola.

The miner plans to offer the first, a 162.42 carat, type IIa diamond, as part of its normal run-of-mine sales later this month, it said Tuesday. It will sell a 116.14 carat rough, which it discovered the next day, by tender at a future date, along with other high-value, type IIa diamonds the company unearthed from the deposit recently.

Both diamonds were recovered in February, with a 162 ct diamond recovered first, and a 116 ct diamond recovered the following day.

The 116 ct Type IIa diamond will be sold through a tender at a future date, along with other high-value Type IIa diamonds recovered recently, while the 162 ct diamond will be sold as part of normal run-of-mine sales later this month.

Lucapa has assets in Africa and Australia, with interests in the Lulo diamond mine and the Mothae diamond mine, in Lesotho.

Source: DCLA

Solid Performance as Lucapa Sells $102m Rough in 2023

Lucapa reported a slight increase in total rough sales for FY2023 in what it described as a solid performance.

The Australian miner announced revenues of $102.2m, up by 1 per cent on the previous year.

Q4 earnings from its two mines – Lulo in Angola and Mothae in Lesotho – slipped by 1 per cent to $40.8m.

During the year Lucapa sold 11 diamonds from Lulo that fetched a total of $32.7m at two Q4 tenders in Q4. It also recovered two Type IIa diamonds from Lulo, a 208-ct and a 235-ct, the second largest recovery since commercial operations started in 2015.

“Both mines delivered a solid performance against processing and production targets in Q4 and we are pleased with the full year results which saw group guidance achieved,” said managing director Nick Selby.

Mothae performed well despite experiencing a lower dollar per carat average in Q4, which impacted its overall diamond price for the year. Lulo had a good run which saw its high-value recoveries attract firm prices at tender.”

Lulo recovered fewer carats than forecast (30,585) but achieved an average $2,700 per carat, well up on the forecast of $2,300. Mothae recovered more carats that forecast but saw average price per carat down from guidance of $1,000 to an actual $775.

Lucapa said in its ASX announcement that the overall diamond price index began to trend upwards towards the end of 2023, because of India’s two-month moratorium and EU sanctions on Russian goods.
“Tightening economic conditions imposed by central banks and a surge in inflation continues to impact discretionary spending on items such as diamond jewellery,” it said.

“However according to media reports at the end of 2023, there are signs the US market is recovering, however the Chinese market remains slow.”

Lucapa holds a 40 per cent stake in Lulo. The remainder is owned by Angola’s national diamond company Endiama (32 per cent) and by private Angolan company Rosas & Petalas (28 per cent). Lucapa holds a 70 per cent stake in Mothae. The government of Lesotho holds the remaining 30 per cent.

Source: DCLA

Anglo announces latest De Beers’ rough diamond sales value

 

Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auctions) for De Beers’ sixth sales cycle of 2023, amounting to US$410 million.

The provisional rough diamond sales figure quoted for Cycle 6 represents the expected sales value for the period 10 and 25 July and remains subject to adjustment based on final completed sales.

Al Cook, CEO of De Beers, said: “In line with seasonal trends, rough diamond sales continued at a lower level during the sixth sales cycle of the year. Participants in the diamond industry’s midstream sector continue to take a cautious approach to purchases in light of ongoing macroeconomic challenges.”

Source: DCLA

Angola considers dual listing for diamond mining firm Endiama

          

                        Angola diamond mining

Angola is aiming for a dual listing for state-owned diamond miner Endiama, reported Reuters citing Angola Mines Minister.

The country initially plans an initial public offering for a stake between 5% and 10% in the company on the Angolan stock exchange, following which it will seek a secondary foreign listing.

This move forms part of the OPEC member country’s efforts to reform and privatise the economy, including a partial listing of national oil company Sonangol.

Russian diamond mining company Alrosa has a joint venture with Endiama in Angola.

Following Russia’s invasion of Ukraine last year, sanctions were imposed by Western nations on several companies, including Alrosa, subsequently impacting Endiama’s operations.

Angola Minister of Mineral Resources, Oil and Gas Diamantino Azevedo told the news agency on the sidelines of a mining conference in Cape Town: “Sanctions are there and there is some impact.”

Azevedo said the government is considering measures required to avoid impacts on diamond production.

The minister noted that the government, however, could go ahead with an initial public offering for Endiama following its restructuring.

Azevedo said: “Our goal is (to list) till 30% but will start maybe with five or 10%.”

According to Endiama’s document at the mining conference, the firm’s production was about 8.75 million carats for 2022.

Between 2022 and 2027, Endiama intends to more than double its diamond production to 17.5 million carats.

In September 2022, Bloomberg News reported that Angola was looking to sell its 30% stake in Sonangol within the next five years.

SOurce: mining-technology

Lucapa Unearths 170ct. Pink from Lulo

 Lucapa Unearths 170ct. Pink from Lulo

Lucapa Diamond Company has recovered one of the largest pink diamonds in history: a 170-carat stone from the Lulo mine in Angola.

The type IIa rough, named the Lulo Rose, is “believed to be the largest pink diamond recovered in the last 300 years,” Lucapa said Wednesday. It is also the fifth-largest diamond from Lulo, and the deposit’s 27th over 100 carats since commercial production began in 2015. Lucapa plans to sell the diamond through an international tender conducted by Angolan state diamond-marketing company Sodiam, it noted.

“The record-breaking Lulo diamond field has again delivered a precious and large gemstone, this time an extremely rare and beautiful pink diamond,” said José Manuel Ganga Júnior, chairman of the board of state-owned Endiama, one of Lucapa’s partners in the deposit. “It is a significant day for the Angolan diamond industry.”

In addition to the pink, Lulo is also the source of Angola’s largest diamond, a 404-carat rough named the 4th February Stone.

Lucapa has begun bulk sampling at “priority kimberlites” as it searches for the primary source of Lulo’s diamonds, managing director Stephen Wetherall added.

Source: DCLA

Three +100 carat diamonds recovered at Lucapa’s Lulo mine

 

Lucapa Diamond Company and its partners Endiama and Rosas & Petalas have announced the recovery of three +100 carat diamonds by Sociedade Mineira Do Lulo from the Lulo alluvial diamond mine in Angola.

The 131-carat is a Type IIa D-colour diamond, the 118-carat is a brown diamond and the 133-carat stone is a lower-quality grey diamond.

Six +100 carat diamonds have been recovered from Mining Block 46 (MB46) in the last three months, reaffirming its recent elevation to the Lulo mining block with the best +100 carat diamond occurrence rate – one +100 carat diamond for every ~20,000 bcm’s of gravel.

The Canguige catchment and adjacent priority kimberlites are already the focus of the Project Lulo JV kimberlite exploration program, and the frequent recovery of large high-value diamonds underpins the prospectivity of this area.

Source: DCLA

Three +100 carat diamonds recovered at Lucapa’s Lulo mine

 

Lucapa Diamond Company and its partners Endiama and Rosas & Petalas have announced the recovery of three +100 carat diamonds by Sociedade Mineira Do Lulo from the Lulo alluvial diamond mine in Angola.

The 131-carat is a Type IIa D-colour diamond, the 118-carat is a brown diamond and the 133-carat stone is a lower-quality grey diamond.

Six +100 carat diamonds have been recovered from Mining Block 46 (MB46) in the last three months, reaffirming its recent elevation to the Lulo mining block with the best +100 carat diamond occurrence rate – one +100 carat diamond for every ~20,000 bcm’s of gravel.

The Canguige catchment and adjacent priority kimberlites are already the focus of the Project Lulo JV kimberlite exploration program, and the frequent recovery of large high-value diamonds underpins the prospectivity of this area.

Source: DCLA

Two diamonds weigh over 100 carats each found in eastern Angola’s mine

 

Dundo, Angola. Two diamonds, one 131-carat and the other 133-carat, were found in Angola’s Lulo mine in eastern Lunda Norte province, national diamond company Endiama announced here Friday.

The white colored gems were found in block 46 and 21 with more than 100 carats discovered in that mine, according to a note from Endiama.

Since the beginning of its exploration in 2010, the Lulo mine is known for its rare and high quality diamonds.

The mine’s blocks 6 and 8 are responsible for the production of 13 of the 15 stones with over 100 carats from Lulo mine, including the largest diamond ever found in Angola in 2016, with 404.2 carats.

The Lulo project, with a concession area of 3,000 square km, is operated within the scope of a partnership in which Endiama holds 32 percent, Lucapa Diamond Company Limited 40 percent, and the operator Rosas & Petalas 28 percent.

Source: DCLA

Two diamonds weigh over 100 carats each found in eastern Angola’s mine

 

Dundo, Angola. Two diamonds, one 131-carat and the other 133-carat, were found in Angola’s Lulo mine in eastern Lunda Norte province, national diamond company Endiama announced here Friday.

The white colored gems were found in block 46 and 21 with more than 100 carats discovered in that mine, according to a note from Endiama.

Since the beginning of its exploration in 2010, the Lulo mine is known for its rare and high quality diamonds.

The mine’s blocks 6 and 8 are responsible for the production of 13 of the 15 stones with over 100 carats from Lulo mine, including the largest diamond ever found in Angola in 2016, with 404.2 carats.

The Lulo project, with a concession area of 3,000 square km, is operated within the scope of a partnership in which Endiama holds 32 percent, Lucapa Diamond Company Limited 40 percent, and the operator Rosas & Petalas 28 percent.

Source: DCLA

Lucapa Diamond Company sells Angola diamonds for $9M

 

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: DCLA

Lucapa Diamond Company sells Angola diamonds for $9M

 

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: DCLA

Population denounces illegal extraction of diamonds in Angola

Luanda, Mar 4 (Prensa Latina) Popular claims in southern Angola warned of the illegal extraction of diamonds and other natural resources in localities of Cuando Cubango, local press reported on Wednesday.
According to the Jornal de Angola daily, the warnings came from the municipality of Mavinga, where the population observed a group of foreigners in clandestine mining activities.

Cited by the newspaper, the province’s governor Julio Bessa said he knew the claims of the population and promised that personnel from the Ministries of Mineral and Petroleum Resources, and Interior will carry out the relevant investigations to adopt measures.

From the Caiundo commune, 135 kilometers from the city of Menongue, reports also arrived on the extraction of various mineral resources, including mercury, confirmed the governor, who assured he was not in doubts about the complaints’ veracity.

As he acknowledged, another similar concern is the uncontrolled exploitation of forest resources in the province, rich in biodiversity, wood, diamonds, copper, gold, bronze, quartz and iron.

The aforementioned irregularities are a concern of the national authorities, which launched Operation Transparency in September 2018, focused primarily on preventing and punishing crimes related to diamond trafficking and immigration.

As a result of the plan, in September 2019 the executive reported on the seizure of about 35,000 carats in one year.

Source: DCLA

Population denounces illegal extraction of diamonds in Angola

Luanda, Mar 4 (Prensa Latina) Popular claims in southern Angola warned of the illegal extraction of diamonds and other natural resources in localities of Cuando Cubango, local press reported on Wednesday.
According to the Jornal de Angola daily, the warnings came from the municipality of Mavinga, where the population observed a group of foreigners in clandestine mining activities.

Cited by the newspaper, the province’s governor Julio Bessa said he knew the claims of the population and promised that personnel from the Ministries of Mineral and Petroleum Resources, and Interior will carry out the relevant investigations to adopt measures.

From the Caiundo commune, 135 kilometers from the city of Menongue, reports also arrived on the extraction of various mineral resources, including mercury, confirmed the governor, who assured he was not in doubts about the complaints’ veracity.

As he acknowledged, another similar concern is the uncontrolled exploitation of forest resources in the province, rich in biodiversity, wood, diamonds, copper, gold, bronze, quartz and iron.

The aforementioned irregularities are a concern of the national authorities, which launched Operation Transparency in September 2018, focused primarily on preventing and punishing crimes related to diamond trafficking and immigration.

As a result of the plan, in September 2019 the executive reported on the seizure of about 35,000 carats in one year.

Source: DCLA

Angola’s Rough-Diamond Revenue Rises in 2019

Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.

Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared with 8.4 million carats in 2018, the government said in a Facebook post last week.  That offset a 10% drop in the average price to $137 per carat for the year. 

The increase came despite weakness in the rough-diamond market in 2019, with many miners, including De Beers and Alrosa, reporting a decrease in sales.

Angola implemented a new, more competitive diamond-trading policy that allows miners to offer 60% of their production to clients of their choice rather than selling through the state trading company.

In the fourth quarter, Sodiam sold 3 million carats of rough for $409 million, at an average price of $136 per carat.

Source: DCLA

Angola’s Rough-Diamond Revenue Rises in 2019

Revenue from Angola’s national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.

Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared with 8.4 million carats in 2018, the government said in a Facebook post last week.  That offset a 10% drop in the average price to $137 per carat for the year. 

The increase came despite weakness in the rough-diamond market in 2019, with many miners, including De Beers and Alrosa, reporting a decrease in sales.

Angola implemented a new, more competitive diamond-trading policy that allows miners to offer 60% of their production to clients of their choice rather than selling through the state trading company.

In the fourth quarter, Sodiam sold 3 million carats of rough for $409 million, at an average price of $136 per carat.

Source: DCLA

LUCAPA FINDS NEW ALLUVIAL SOURCE FOR LARGE DIAMONDS

Lucapa Diamond Company has found a new alluvial source of “large and premium value diamonds” at its Lulo diamond mine in Angola, according to press release.

Lucapa said that it has been exploring the extensive flood plains along the 50km stretch of Cacuilo River valley within the Lulo diamond concession, and found that they are host “to exceptional alluvial diamonds”.

The tested area yielded 17 Specials larger than 10 carats, including an exceptional 55 carat Type IIa D colour white. A total of 1,502 carats were recovered so far from 11,155 bulk cubic metres processed.

Lucapa said that it will continue testing “other flood plain areas at Lulo in parallel with alluvial mining activities in established areas”.
Source: DCLA

LUCAPA FINDS NEW ALLUVIAL SOURCE FOR LARGE DIAMONDS

Lucapa Diamond Company has found a new alluvial source of “large and premium value diamonds” at its Lulo diamond mine in Angola, according to press release.

Lucapa said that it has been exploring the extensive flood plains along the 50km stretch of Cacuilo River valley within the Lulo diamond concession, and found that they are host “to exceptional alluvial diamonds”.

The tested area yielded 17 Specials larger than 10 carats, including an exceptional 55 carat Type IIa D colour white. A total of 1,502 carats were recovered so far from 11,155 bulk cubic metres processed.

Lucapa said that it will continue testing “other flood plain areas at Lulo in parallel with alluvial mining activities in established areas”.
Source: DCLA