Lucapa Diamond Company has entered voluntary administration following a major cost-cutting initiative and a significant reduction in its corporate workforce. The decision comes in the wake of mounting financial pressure and weakening global diamond demand, attributed in part to US President Donald Trump’s trade tariffs, which have disrupted pricing and buyer confidence.
Lucapa Diamond Secures Majority Stake in Lulo
Lucapa Diamond has announced plans to restart production at its mothballed Merlin diamond mine in Australia’s Northern Territory.
Lucapa Diamond and Petra Diamonds provided a glimmer of hope for the precious gemstones market on Tuesday by posting stronger revenues and production figures, signalling a potential recovery in the depressed diamond market.
Lucapa Diamond Company diamonds recovered from the Lulo mine
Lucapa today (25 June) announced the sale of its 70 per cent stake in the Mothae mine, in Lesotho, to a local contractor for a nominal sum. The Australian miner said it wanted to to focus on its core assets in Africa, where it has a 40 per cent stake in the Lulo alluvial mine, … Read more
Lucapa recovers 195 carat diamond from Lulo mine
Lucapa Diamond Company has sold three exceptional diamonds recovered from the Lulo mine, in Angola, for $10.5-million at tender. The tender was concluded on April 19 and was conducted by Sodiam, in Luanda. The three Type IIa white diamonds, weighing 203 ct, 116 ct and 43 ct, made up Lucapa’s first tender of Lulo diamonds … Read more
Industry veteran Stuart Brown, who has led multiple diamond-mining companies, will become chairman of the board at Lucapa Diamond Company.
Australia’s Lucapa Diamond has recovered a 203 carat diamond at its prolific Lulo mine in Angola, the fifth largest ever found at the operation. The diamond is also the third 100 carat plus stone found at Lulo this year. Lucapa said the high quality, type IIa diamond was recovered during the processing of run of … Read more