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The new diamond was dug up from Mining Block 550, immediately south of Mining Block 19, which Lucapa said is area that has yielded eight precious rocks over 100 carats to date.
The partners have now recovered 40 diamonds weighing more than 100 carats and four over 200 carats at Lulo. In 2016, only a year after beginning commercial production, Lulo produced the largest ever diamond recovered in Angola — a Not surprisingly, the mine is considered the world’s highest dollar-per-carat alluvial diamonds operation, in which Lucapa has a 40% interest. The rest is held by Angola’s national diamond company and Rosas & Petalas, a private entity.
“Lulo continues to demonstrate it is a prolific producer of large diamonds. To unearth three +100 carat diamonds – with two being over 200 carats in such a short space of time from different areas of the concession, makes us more determined to find the primary source, by dedicating even more resources to the exploration program,” Lucapa managing director, Nick Selby, said
Angola is the world’s fifth diamond producer by value and sixth by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully lessening government regulations and restrictions in favour of a greater participation by private entities.RANKED: World’s top 10 graphite projectsNew study shows a $1.1 billion drop in gold exploration budgets this year as juniors struggle to raise capital, but the precious metal still accounts for 46% of the total.
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