February 15, 2016

Australian Company Lucapa Finds Huge Diamond In Angola


Diamonds are meant to be worn on the finger, not be the size of a finger.
However, a diamond found in Angola by a small Australian-listed company, Lucapa Diamond, would make for a huge sparkler.

At 404 carats, Lucapa said it was the biggest diamond found in Angola and the biggest ever discovered by an Australian company.
The company, citing Wikipedia, said it was the 27th biggest diamond found in the world.
The diamond came from the Lulo mine, 40 per cent owned by Lucapa.

Lucapa shares rose 29 per cent on Monday after the announcement.

A photograph released by the company showed the stone measuring about seven centimetres in length.

Lucapa shares were 9.5¢ higher at 41.5¢ in afternoon trading on Monday.

Lucapa chief executive Stephen Wetherall said the company would continue efforts to find the source of the huge diamond.

The find came just months after another company, Lucara Diamond, found a 1111 carat diamond in Botswana.

It was said to be the world's second-largest diamond, behind the 3106 carat Cullinan diamond found in South Africa in 1905.

By Peter Ker

With many thanks to the SMH


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