Dundo – Angola’s Sociedade Mineira do Lulo (SML) announced the extraction of a 176-carat diamond from its alluvial mine, located in the municipality of Capenda-Camulemba, Lunda-Norte province.
According to the company's statement, to which ANGOP had access today, Tuesday, the diamond was extracted on Monday, 29, and is the fifth with more than 100 carats recovered in the mine this year.
The strategic grade IIa mineral, with its sharp, angular edges, comprises only two percent of diamonds worldwide, and is characterized by a high degree of transparency and purity.
The institution points out that the recovery of these high-value diamonds has proven to be a significant source of revenue for the Lulo mine and for the State.
Since the start of the mine's operations in 2010, 45 diamonds with more than 100 carats have been extracted.
The Lulo mine has shown a high potential for 'quality and quantity', having achieved the highest value per carat in the world in the first year of exploration, in the order of US$2,985 (3,005 euros).
Lulo is also the mine where the largest diamond found so far in Angola was extracted, with 404.2 carats, sold in May 2016 for US$16 million and which came to yield US$34 million, after being cut and transformed into jewelry.
With a concession of 3,000 square kilometers, whose ongoing exploration contract is set at 1,500 km of the perimeter, the Lulo mine, located in the municipality of Capenda-Camulemba, with an investment of more than 24 million US dollars.
The consortium is made up of Angolan companies Endiama E.P (32%) and Rosas & Pétalas (28%), as well as Australia's Lucapa Diamond (40%). HD/DOJ
