May 23, 2018 Last Updated 11:11 AM, May 23, 2018

Angola’s second largest diamond uncovered

diamond in bedrockABNABN - Australian mining firm Lucapa Diamond (ASX:LOM) has unearthed a 227-carat diamond at the Lulo Diamond Project mine in Angola. 

The newly-discovered diamond is the second largest to be uncovered to date at the Lulo mine, situated east of the capital Luanda, only after a 404-carat stone was found last year.

Lucapa confirmed in a statement that the precious stone is a premium quality Type IIa D-colour gem, after testing was conducted on a Yehuda colorimeter.

Managing director Stephen Wetherall said: It is fitting that within a week of the anniversary of Angola’s biggest diamond, the 404-carat 4th February Stone, we have now uncovered Angola’s 2nd biggest diamond on record.

“The recovery of the 227-carat diamond through the new XRT circuit also vindicates our investment in this large-diamond recovering technology, which will have more than paid for itself with the recovery of this stone alone.”

Angola is the world's fourth-largest diamond producer by value, and is keen to develop its diamond mining sector as it attempts to diversify its economy, away from its current reliance on oil.



This Month's Issue

abn v5iCover finalweb