Another Huge Diamond Discovered in Angola

The 227-carat stone was found in a new mining block at the Lulo mine. Photo courtesy of Lucapa Diamond Company.

Weighing 227 carats, latest gemstone from Lucapa's Angolan diamond mine is its second largest to date


A 227-carat diamond, the second-largest ever found in Angola, has been discovered at the Lulo Diamond Project mine east of the capital Luanda, Australian miner Lucapa Diamond said on Monday.

Lucapa, along with Angolan state firm Empresa Nacional de Diamantes E.P., co-own the mining concession.

A 404-carat stone was discovered in 2007, Lucapa said.
"The recovery underlines the significant potential of the Lulo Kimberlite drilling programme," the Australian company said in a statement.

Angola is the world's fourth-largest diamond producer by value. It is keen to find alternative exports to oil, following a sharp drop in global crude prices over the last two years which has forced it tA 227-carat diamond, the second-largest ever found in Angola, has been discovered at the Lulo Diamond Project mine east of the capital Luanda, Australian miner Lucapa Diamond said on Monday.

Lucapa, along with Angolan state firm Empresa Nacional de Diamantes E.P., co-own the mining concession.

A 404-carat stone was discovered in 2007, Lucapa said.

"The recovery underlines the significant potential of the Lulo Kimberlite drilling programme," the Australian company said in a statement.


So far Lucapa has unearthed seven diamonds over 100 carats from the Lulo diamond project. Located 150km from Alrosa's Catoca mine, the world's fourth largest diamond mine, Lulo hosts Type IIa diamonds which account for less than 1% of global supply.

Angola is the world's fourth-largest diamond producer by value. It is keen to find alternative exports to oil, following a sharp drop in global crude prices over the last two years which has forced it to borrow to cover a shortfall in revenue.o borrow to cover a shortfall in revenue.

©  Reuters.