Sunday, 11 September 2016

Lucapa Diamond (ASX:LOM) unearths 38.6-carat pink diamond

Australian Lucapa Diamond (ASX:LOM) has unearthed a 38.6-carat pink diamond at its Lulo project in Angola. The coloured stone is the largest “fancy” pink diamond recovered to date from Lulo, surpassing the 28.5-carat stone the company had sold earlier as part of a parcel for a total of $5.8 million.

The Lulo diamond project is located 150km from Alrosa's Catoca mine, the world's fourth largest diamond mine. Lucapa holds a 35-year license for the project, which recently produced a 404.2-carat white diamond, considered the largest diamond ever recovered in Angola.
Angola is the world’s No.4 diamond producer by value and No.6 by volume.

The Pink Star, formerly known as the Steinmetz Pink, is a diamond weighing 59.60 carats rated in color as Fancy Vivid Pink by the GIA. The Pink Star was mined by De Beers in 1999 in South Africa, and weighed 132.5 carats rough. The Pink Star is the largest known diamond having been rated Vivid Pink.