Lucapa and its partners commenced alluvial diamond mining operations at Lulo in January 2015, with Lulo alluvial mining company Sociedade Mineira Do Lulo (SML) (Lucapa 40% owner and operator) formally incorporated in May 2016.

Alluvial mining and exploration activities at Lulo are focused on a ~50km stretch of the Cacuilo River which runs through the Lulo concession.

To date, Lulo has achieved diamond sales of ~US$100 million and has become the world’s highest average $ per carat alluvial production.

Lulo is a prolific producer of large and premium value diamonds, including more than 600 Specials (large diamonds weighing more than 10.8 carats). These large diamonds include 10 +100 carat stones, including Angola’s two largest recorded diamonds weighing 404 carats and 227 carats.

Lulo is also a source of high-value coloured diamonds, with production including a 39 carat pink gem and a 43 carat yellow.

Lulo has established infrastructure to support its diamond mining operations and exploration activities, including a company-owned earth moving fleet and a 150 tonne per hour diamond processing plant with a new wet front end and XRT technology capable of recovering individual diamonds of up to 1,100 carats.