Lucapa recovers 208carat diamond
Lucapa Diamond Company has made another significant discovery. The firm operating in Angola unearthed a 208-carat rough diamond from its Lulo mine.
The diamond is classified as a type IIa diamond, which is known for its high quality and exceptional clarity. Type IIa diamonds are very pure and typically command high prices in the market. The diamond was found in the lizeria, or floodplain area, of Mining Block 31, which is a known area for delivering high-value stones. This region has been a consistent source of valuable diamonds for the company.
Milestone
The 208-carat rough diamond is the third-largest ever discovered by Lucapa at the Lulo mine. It is also the 39th rough diamond over 100 carats to be recovered from the site since mining operations began in 2015. This particular discovery follows another significant find earlier in the same month when Lucapa retrieved a 123-carat type IIa rough diamond from the lizeria area of Mining Block 19. These discoveries are significant for Lucapa Diamond Company, especially as they come at a time when the company has experienced a drop in revenue.
The CEO, Nick Selby, noted that “large, high-quality diamonds” continue to command strong prices in the market, which could help offset the revenue decline. High-quality and large diamonds tend to be sought after by collectors and investors, making them valuable assets for the company.
