The international diamond group, Lucapa Diamond Company Limited has high valued mines in Angola and Lesotho, with exploration projects in Australia, Botswana, and Angola.
The company on 21 March 2019, provided an update on Alluvial Diamond Resource for the Lulo diamond mine in Angola Lulo Diamond Resource. LOM is under the partnership with Rosas & Petalas and Empresa Nacional de Diamantes E.P.
Z Star Mineral Resource Consultants Limited, an External consultant of Cape Town, South Africa, independently estimated and reconciled The Lulo Diamond Resource, on a depletion and addition basis as on December 31, 2018.
The resource estimation comprised of 19 months of mining depletion at Lulo from May 31, 2017, to December 31, 2018. During, 19 months, more than 30,000 carats of diamonds were recovered and sold for approximately US$ 62 Mn.
This extensive ongoing resource definition, drilling and sampling program included an additional 4,200 auger holes 36,000 meters drilled.
The current sale of Diamond was estimated at prices above the previous resource estimation on May 31, 2017.