Africa > Central Africa > Angola > Australia’s Lucapa Diamond Company has been authorised to sell 371.35 carats of diamonds value

Angola: Australia’s Lucapa Diamond Company has been authorised to sell 371.35 carats of diamonds value

2014/03/16

Australia’s Lucapa Diamond Company has been authorised to sell 371.35 carats of diamonds valued by independent consultancy Jaguar Consultants at 308.4 million kwanzas (US$3.16 million), Angolan newspaper Expansão reported.

The company, which is prospecting for diamonds at the Lulo project in Angola’s Lunda Norte province, has been authorised by the Angolan authorities, for the second time, to sell the diamonds it has discovered.

The lot of diamonds includes the two major found by the company in January of this year. One of these is a 95.45 carat stone and the other is 32.2 carats.

The Lucapa Diamond Company (http://www.lucapa.com.au/) is based in Perth, Western Australia and in 2007 it signed a diamond prospecting arrangement for the Lulo project with Angola’s national diamond company Empresa Nacional de Diamantes de Angola (Endiama).

Meanwhile, mining group De Beers announced it is negotiating with the Angolan government and Endiama to be granted new diamond prospecting concessions.

According to Lynette Gould, De Beer’s communications director, the group concluded an extended prospecting programme in the Lunda Nordeste concession at the end of 2012 next which it gave up the concession as it was not economically viable.

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