Lucapa finds Lulo mine’s third-largest diamond
Cecilia Jamasmie | November 1, 2023 |
Australia’s Lucapa Diamond (ASX: LOM) has recovered a 208 carat diamond at its prolific Lulo mine in Angola, the third-largest ever found at the operation.
The company said the high-quality, type IIa diamond was unearthed at the lizeria, or terrace area, of its Mining Block 31 portion of Lulo, known for delivering high-value stones.
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.
The mine, which hosts the world’s highest dollar-per-carat alluvial diamonds, began commercial production in January 2015. Only a year later, it delivered the largest ever diamond recovered in Angola — a 404-carat white stone later named the “4th February Stone”.
The operation has delivered 39 diamonds weighing more than 100 carats each to date.
Lucapa has a 40% stake in the Lulo mine. The rest is held by Angola’s national diamond company (Endiama) and Rosas & Petalas, a private entity.
Angola is the world’s fifth diamond producer by value and sixth by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully being liberalized.
Letšeng Mine Yields 117.47-Carat Rough for Gem Diamonds
Gem Diamonds announced the recovery of a 117.47-carat rough diamond from its Letšeng mine in Lesotho. This marks the fourth time this year that the company has unearthed a rough diamond exceeding 100 carats.
The discovery of this gem-quality, type IIa diamond occurred on October 29, with Gem Diamonds revealing the news on Tuesday. This find comes in the wake of a 101.96-carat high-quality rough diamond discovered on September 28, a 163.91-carat yellow diamond on June 22, and a 122-carat stone found on March 5.
Letšeng Mine has long been recognized for producing high-quality rough diamonds, frequently exceeding 100 carats. However, recent years have seen a decline in such discoveries. Nevertheless, this latest recovery has matched the previous year's total, during which the company also retrieved four diamonds in this category. This compares to six such diamonds in 2021 and 16 in 2020.
The decreasing number of special-size stones has impacted the company's revenue, resulting in a 28% year-on-year sales decline to $71.8 million in the first half of 2023. Gem Diamonds incurred a loss of $1 million, in contrast to a profit of $3.8 million during the same period in 2022.
Canada Unearths its Largest-Ever Yellow Diamond in Tiffany Crafts
Sourced in Canada, the diamond represents Tiffany’s relentless pursuit of the most exceptional gemstones that the world has to offer.
As the largest rough Fancy Vivid Yellow diamond ever discovered in Canada, weighing over 71 carats, the remarkable rough gem was sustainably sourced from the Ekati Mine in the Northwest Territories of the region. It is considered a miracle of nature and is extremely rare due to its highly saturated vivid yellow hue and showcased a near-perfect octahedral shape.
Tiffany & Co. artisans cut each in the highly coveted classic emerald shape. Victoria Wirth Reynolds, Chief Gemmologist, Tiffany & Co., said, “Our artisans handcrafted this rough stone into two gems of unparalleled vivid yellow colour and brilliance—transforming nature’s miracles through the exceptional skill of Tiffany craftsmanship.”
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