https://www.engineeringnews.co.za

Lucapa’s latest Lulo sale nets A$2.9m

19th May 2016

By: Creamer Media Reporter

  

Font size: - +

JOHANNESBURG (miningweekly.com) – ASX-listed Lucapa Diamonds has made A$2.9-million from the sale of 1 862 ct of diamonds from its Lulo mine, in Angola, representing an average price of A$1 580/ct.

Since the sale, Lucapa had recovered some large diamonds, which weigh more than 10.8 ct, from trial mining at the E46 alluvial terraces, including diamonds weighing more than 60 ct, 35 ct and 21 ct.

Lucapa reported this week that the end of the Angolan wet season had also enabled the company and its partners to resume alluvial diamond mining operations at Mining Block 6, where initial special recoveries had included a 13 ct fancy yellow – one of the largest fancy-coloured gems recovered to date at Lulo.

Mining operations were also expected to resume at Mining Block 8 during the June 2016 quarter, where de-watering and mine preparations continued.

“Mining Blocks 6 and 8 have been regular sources of large valuable diamonds, producing four 100-ct-plus stones to date, including the record 404 ct Type IIa D-colour gem, which sold for A$22.5-million in February 2016,” the company reported.

Meanwhile, Lucapa announced new management appointments. Ricard Barnes was appointed Lulo mine general manager and Johan van Wyk was appointed finance manager.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.079 0.136s - 156pq - 2rq
Subscribe Now