Aussie mining firm finds Angola’s largest diamond valued at AU$20-M

  • An Australian mining company recovered Angola’s largest diamond on record
  • It was valued at no less than AU $20M and weighs 404 carats
  • It is said to be the world’s 27th largest diamond ever recovered on record

An Australian company has found a 404-carat diamond in Angola, said to be the largest ever found in the country and the 27th biggest recorded in the world. It is also the biggest diamond ever found by an Australian mining firm.

The gem was discovered by Perth-based Lucapa Diamond Company in its alluvial block 8 Lulo project in the country’s north-eastern province of Lunda Norte.

A total of 60 large special diamonds has already been recovered from the same area since Lucapa’s mining operation commenced in August 2015.

While Lucapa has not yet valued the diamond, recent sales of large special diamonds in its records suggests it could be valued at not less than AU $20-million (US $14.2-M).

Lucapa chairman Miles Kennedy told ABC News it was an excellent find, as welll as a huge investment for the company since operation started.

“When we first looked at the property, 3,000 square kilometres of untouched ground, 700 kilometres inland from the coast, you are talking about a very, very remote area,” Kenedy said.

He added: “The results today are a wonderful vindication of eight years of pretty hard work.” (Click here to read more)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s