The Company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand and prices remain robust.
Lucapa’s flagship asset is the Lulo project in Angola, which is a prolific producer of large and premium-value alluvial diamonds. Lulo has produced 13 +100 carat diamonds to date and is the highest average US$ per carat alluvial diamond production in the world.
Lulo has produced Angola’s two biggest recorded diamonds weighing 404 carats and 227 carats.
Lucapa and its Lulo partners continue to advance their search for the primary kimberlite sources of these exceptional alluvial gems, with a new exploration program launched in May 2019.
Lucapa’s second high-value mine, the 1.1 Mtpa Mothae kimberlite project in diamond-rich Lesotho, commenced production in January 2019 and has already produced six +50 carat diamonds under Lucapa’s ownership, including a gem-quality 126 carat stone.
Lucapa also has early stage exploration projects at Brooking in Western Australia and Orapa Area F in Botswana, which have been placed on hold to focus on the Lulo and Mothae operations.
Lucapa’s Board and management team have decades of diamond industry experience across the globe with companies including De Beers and Gem Diamonds.