Lucapa Diamond (ASX: LOM) announced on Tuesday the recovery of a 195-carat Type IIa diamond from its Lulo mine in Angola.
This diamond is the sixth largest and the 44th diamond over 100 carats to be recovered from the Lulo mine. The 195-carat diamond is also the fourth diamond over 100 carats to be found at Lulo this year.
The Lulo mine, renowned for producing the world’s highest dollar-per-carat alluvial diamonds, began commercial production in January 2015. A year later, it yielded Angola’s largest diamond ever—a 404-carat white stone known as the “4th February Stone.”
Lucapa holds a 40% stake in the Lulo mine, with the remaining ownership shared between Angola’s national diamond company, Endiama, and the private entity Rosas & Petalas.
Angola ranks as the world’s fifth largest diamond producer by value and sixth by volume. Its diamond industry, which started a century ago during Portuguese colonial rule, is currently undergoing successful liberalization.
