Tuesday, November 14, 2017

Angola Mine Yields Eighth Diamond Above 100cts
Nov 14, 2017 3:20 AM 
By Rapaport News

RAPAPORT... Lucapa Diamond Company has recovered a 129.58-carat rough diamond at its Lulo mine in Angola — the eighth stone above 100 carats since production started at the deposit in August 2015.

Testing on a Yehuda color machine showed the diamond was type IIa, D-color, Lucapa said Monday. The company also found a 78.61-carat diamond with those same specifications, it added.

Lucapa is currently attempting to find the kimberlite from which these large diamonds originated. The present Lulo deposit is an alluvial mine, meaning the diamonds located there have been washed away from their source.

“Explosive and erosive geological forces have deposited these very rare and valuable diamonds in a relatively localized area at Lulo,” said Stephen Wetherall, managing director of Lucapa. “These localized recoveries, and other indicators, point to the huge potential of a large-stone primary kimberlite source at Lulo.”

The largest rough diamond found at Lulo to date was the 404-carat 4th February Stone, which Swiss jeweler De Grisogono cut into an emerald-cut, 163.41-carat, D-color, flawless polished stone. The luxury group expects the jewel, set in a necklace or a bracelet, to fetch an amount in the region of $30 million to $40 million at a Christie’s auction in Geneva on Tuesday. 

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