Lucapa Diamond Company which operates the Lulo Diamond Mine in Angola, in partnership with Angola Government stakeholders Endiama and Angolan private company Rosas & Petalas, and has gone into a manufacturing partnership with Graff Subsidiary Safdico International, has released the polished results of a 46-carat pink rough diamond, the largest ever pink diamond to be unearthed at the mine
According to a press release issued by the company, dated December 3, 2020, the 46-carat rough diamond delivered three polished diamonds – a 15.2 carat heart-shaped and two pear-shaped diamonds weighing 3.3 carats and 2.3 carats.
The 15.2 carat heart-shaped diamond was graded by the GIA as having a color-grade of Fancy-Intense Orangy-Pink and a clarity-grade of VVS1 with excellent polish and symmetry.
The 46-carat pink coloured diamond is the largest gem-quality coloured rough diamond recovered to date from Lulo mining operations.
According to the transformational marketing regulations enacted by the Angolan Government in 2019, the Lucapa Diamond Company can sell diamonds into other value accretive channels and partnerships that enables the Company to attract additional value over and above the normal rough price achieved at mine gate, materially enhancing the value, the Company delivers to all its stakeholders, including the Angolan Economy.
Commenting on the results achieved by the 46-carat pink rough diamond, Chairman of the Board of Endiama, Dr Ganga Junior said, “The results obtained from this diamond are a reflection of the new Government policies for the Angolan diamond sub-sector. They also constitute physical and visible evidence of the great potential of the Lulo mine, which due to the quality and characteristics of the diamonds it has produced, boosts our confidence in the future of the national diamond industry. ENDIAMA, as a partner, welcomes this major step, which enhances the value of Angola’s diamonds.”
An optimistic Lucapa Chief Executive and Managing Director, Stephen Wetherall said, “The recent enactment of the Angolan diamond marketing regulations is having the desired effect. New permitted diamond marketing channels, such as this partnership initiative implemented at SML, are starting to show the real and significant additional benefits that can be derived from the diamonds produced at Lulo.”
Continuing in the same vein he further stated, “Pink coloured diamonds are rare and constitute less than 0.1% of global diamond production. With the recent closure of the renowned Argyle underground mine in Australia, which produced approximately 90% of the world’s natural pink diamonds, these diamonds are about to become even more scarce. This bodes well for the sale of the 15.2 carat polished pink diamond and other diamonds derived from this unique value accretive polishing partnership”.
The Lulo diamond mine in Angola is one of the highest average US dollar per carat alluvial diamond mines in the world.