Lucapa Diamond Company gets another five years to mine diamonds in Angola

29 November 2016

Australia’s Lucapa Diamond Company has obtained from the Government of Angola a new kimberlite operating license for the Lulo diamond project, the company said in a statement on Monday.

The statement said that the new license covers the whole 3,000 square kilometres of the Lulo concession and is valid for five years.

The first concession for this project was awarded in November 2014 and operations at the mine began in August 2015, a partnership between Lucapa (40%) with the Angolan state-owned Empresa Nacional de Diamantes de Angola (Endiama), with 32% and private company Rosas & Pétalas (28%).

The Lucapa Diamond Company, which last May announced new investments to enhance diamond production at the mine, which in February discovered the largest diamond ever found in Angola and the 27th in the world at 404.2 carats and whose sale raised US$16 million.

The statement from the Lucapa Diamond Company adds that this ministerial approval allows partners in the Lulo mining company to conclude a mining investment contract for the concession. (macauhub)