Lucapa Diamond Company Limited announced  that the Angolan Ministry of Mineral Resources and Petroleum has  gazetted a new Mineral Investment Contract (MIC) for the Lulo kimberlite exploration licence. The MIC covers a five-year period through to 30 April 2023, the Company announced.

Lucapa is a co-owner –  along with Empresa Nacional de Diamantes E.P. (Endiama) and Rosas & Petalas -- and operator of the kimberlite (primary source) exploration programme on the highly prospective 3,000km2 Lulo concession, which Lucapa says “is run in parallel with the high-value alluvial diamond mining activities, conducted via Sociedade Mineira Do Lulo”.

“Lucapa and its partners have established a systematic year-round kimberlite drilling programme which aims to identify the primary hard-rock source, or sources, of the exceptional large and high-value alluvial diamonds currently being recovered proximal to the kimberlite targets at Lulo,” the Company stated.

Lucapa Managing Director Stephen Wetherall commented: “Following on from the recent gazetting of Angola’s new diamond marketing policy, this new five-year award is another sign of the positive changes taking place in the Angolan diamond sector, which are aimed at increasing foreign direct investment and diamond production.”

He  noted  that it was  evidence of Angola’s diamond sector reforms and the strong working relationship between Lucapa and its Angolan partners.