Australian company extracts 1,317 diamonds in concession in Angola

10 April 2015

The exploitation of alluvial diamonds in Lulo, in the Angolan province of Lunda Norte, allowed the 1317 diamond mining since January, informed the Australian company Lucapa Diamond in a statement Wednesday.

The diamonds extracted as a result of processing 12,912 cubic metres of rock, had a total mass of 1,335 carats, with an average of 1.01 carats, and the largest is 26.7 carats.

Block 29 is the first area of ​​alluvial diamonds mined in Lulo since the Australian diamond company and its partners last November signed a 35-year concession contract.

The company, whose Angolan partners in this project are state company Endiama and private group Rosas & Pétalas, has given assurances that with these results next June it will achieve positive cash flow from mining in Lulo.

During the prospecting phase, which lasted for six years, the company extracted 876.5 carats in the Lulo area, including a stone of 131.4 carats, the largest of all, which yielded US$6 million.

The Lulo concession lies 150 kilometres from the Catoca diamond mine, which is the biggest in Angola and the fourth-largest of its kind in the world, and both are located in the same geological area. (macauhub/AO)