Lucapa discovers type IIa 131-carat stone at Lulo mine in Angola

Lucapa has discovered another gem at its Lulo mine in Angola. The Australian miner announced it has unearthed a Type IIa 131-carat stone, described a “spectacular” gem.

This is the fourth +100 carat diamond found in Lulo this year and the 29th +100 carat diamond recovered since commercial production started at the mine in 2015, with the Lulo Rose ranked the fifth largest.

In 2016, the operation yielded the largest ever diamond recovered in Angola, a 404-carat white stone later named the “4th February Stone.” Chief executive officer Stephen Wetherall announced that his company was working to discover the source of the large stones in Angola.

Lulo mine

Lucapa has a 40% stake in the Lulo mine, which hosts the world’s highest dollar-per-carat alluvial diamonds. The rest is held by Angola’s national diamond company (Endiama) and Rosas & Petalas, a private entity.

“We are extremely pleased with the recovery of another spectacular +100 carat Type IIa diamond at Lulo, which continues to illustrate the success of our long partnership with Endiama and Rosas & Petalas, the unique nature of the Lulo resource and the potential of the primary source exploration program,” Lucapa Managing Director, Stephen Wetherall, said.

“Over eight years of consistent commercial mining, we have been recovering large, irregular shapes and high value diamonds consistently. Size and shape matters. Why? Because it’s an indicator of proximity to source. The diamond market fundamentals are strong and will remain so as supply continues to decrease,” added Wetherall.