[ACCI-CAVIE] The Lulo mine is among the richest in Angola. In recent years, it has yielded several diamonds weighing more than 100 carats, the two largest being white stones weighing 404 ct and 227 ct. This issue is closely monitored by the African Centre for Competitive Intelligence analysts.
In Angola, the Lulo diamond mine is estimated to host an inferred diamond resource of more than 151,000 carats as of December 31, 2021, according to an update released on Monday, March 28, 2022 by Lucapa Diamond. This is an 11% year-over-year increase.
This increase is mainly due to a drilling campaign carried out on the site which allowed the definition and addition of new resources to compensate for those exploited during the year. This is the fourth consecutive year in which the project’s potential has been revised upwards.
As a reminder, since Lulo began production in 2015 to date, approximately 137,000 carats of diamonds have been recovered, and sold for total estimated revenues of $276 million, or an average price of $2,000/carat.