Lulo mine recovers 208 carat rough


Lucapa Diamond Company has recovered a 208-carat rough from its Lulo mine in Angola, the second stone over 100 carats in the same month.

The miner unearthed the high-quality, type IIa diamond from the lizeria, or terrace area, of its Mining Block 31 portion of the deposit, known for delivering high-value stones, it said Wednesday. The diamond is the third-largest rough the company has discovered at Lulo and the 39th over 100 carats since mining at the site commenced in 2015.

The diamond is also the second 100-carat-plus stone Lucapa retrieved in October, following the recovery of a 123-carat, type IIa rough at the start of the month. That find was from the lizeria area of Mining Block 19.

The discovery is a boon for the miner, which saw revenue slump 47% year on year to $14.6 million in the third quarter amid weak demand. However, “large, high-quality diamonds” were still attracting strong prices, according to Lucapa CEO Nick Selby.

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