Angola : 5,278 carats of diamonds produced at Lulo in three months

The Lulo diamond mine, in northern Angola, produced 5,278 carats of diamonds during the quarter ended 30 September, ASX listed Lucapa Diamond Company Ltd on 16 September reported.

The Australian growing diamond company, operator with 40% ownership of the project, said the quarterly production took year to date production to 13,580 carats. The joint-venture company Sociedade Mineira Do Lulo (SML) achieved the production and claims, as of 30 September, a diamond inventory of 1,710 carats which will be included in the next diamond sale scheduled for November 2017.

Lulo mine continued to regularly produce large and premium-value diamonds throughout the quarter. This includes 68 specials weighing a total of 1,925 carats. These specials included two 83 carat diamonds and eight other +50 carat stones.

During the period under review, SML generated gross revenues of 8.8 million $ from two sales of Lulo alluvial diamonds at an average price of 1,676 $ per carat. This took year to date gross sales revenues to 24.3 million $ at an average price of 1,640 $ per carat.

The Lulo project relates to 1,500 km2 mining licence area and is part of the vast Lulo concession of 3,000 km2 located in the Lunda Norte province.