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Virtually flawless 404 carats diamond unearth in Angola.
Diamond weighing 404 carats is one of the largest ever found (Video)
http://money.cnn.com/2016/02/15/luxury/diamond-404-carat-lulo-project/
At 404.2 carats, it measures about 7 cm across -- about the length of a credit card, Lucapa said.
It was mined by the Lulo Diamond Project, a partnership between Endiama, Angola's national diamond company, Lucapa Diamond Company, and a private investor, Rosas & Pétalas.
New York-based diamond retailer Yehuda tested the new diamond's color and clarity, according to Lucapa, and categorized it as a Type IIa stone -- meaning it's virtually flawless.
It's also D-colored, or entirely colorless, Lucapa said. That is the rarest -- and likely most valuable -- color grade for a white diamond, according to the Gemological Institute of America.
The Lulo Diamond Project began exploring a 1,148 square-mile plot of land in central Angola in 2015, and the area has so far produced more than 60 "large special diamonds," the company said.
Lucapa, a relatively tiny diamond exploration company, is traded on Australia's ASX stock exchange under the symbol LOM. It suspended trading a few days in advance of the announcement. When Lucapa resumed trading on Monday, its shares jumped 30%.
Chairman Miles Kennedy told ABC Australia that the historical find could be worth about $20 million.
Angola is the world's fourth biggest country for diamond production. The 404.2 carat gem is now the largest to ever come out of the country, topping the 217.4 carat gem found in 2007 and dubbed the "Angolan Star."
The world record was a 3,106 carat gem, called the "Cullinan." It weighed in at a massive 1.3 pounds and was discovered in South Africa in 1905. That stone was cut to adorn the royal sceptor, one of Britian's crown jewels, and is on display at the Tower of London.
"Cullinan" was nearly triple the size of the second largest diamond on record, which weighed 1,111 carats and was found in November 2014.
The diamond discovery announced Monday would make it the 27th largest diamond ever recorded.
Miners In Angola Unearth 404-Carat Diamond Worth $14.3 Million
http://www.techtimes.com/articles/134008/20160216/miners-in-angola-unearth-404-carat-diamond-worth-14-3-milliion.htm
A team of miners working for an Australian company has dug up what could be the largest piece of diamond ever to be found in Angola. The massive 404-carat gemstone is believed to be worth about $14 million.
Miles Kennedy, chairman of the Perth-based Lucapa Diamond Company, said that they were not used to determining the value of a 400-carat diamond.
Miners from the company found the large diamond in one of its mines located some 300 miles east of Luanda, Angola's capital city.
Kennedy pointed out that when they first surveyed the 3,000-square kilometer (1,158-square mile) property, they thought that it was at a very remote area, being located 700 kilometers (435 miles) inland from the Angolan coast.
He said that discovering the massive diamond on this site is a form of vindication for all the years of hard work they have done.
According to Lucapa, the gemstone is the largest of its kind to be found in Angola. It is also the biggest one to be unearthed by a miner from Australia.
The company said that the diamond measures about seven centimeters (2.75 inches).
Angola is considered the fourth largest diamond-producing country based on value.
Kennedy has been in search of diamonds ever since he established the Ellendale mine in the Kimberley region of Western Australia during the 1990s.
When he went on to start The Lucapa Diamond Company, Kennedy brought his geology team from Ellendale to his mine in Angola.
"I started the Ellendale diamond mine and was there from 1993 to 2007, so 14 years, and in that time we only got one diamond greater than 10.8 carats, known as a special diamond," Kennedy said.
Through Lucapa, Kennedy has now discovered more than 100 special diamonds over the past six months alone.
He said that he plans to use the sizeable cash injection from the sale of the diamond to expand Lucapa's operations to include other areas.
The discovery of the 404-carat diamond comes months later after another firm, Lucara Diamond, unearthed a massive 1,111-carat diamond of its own in Botswana.
The Lucara find is considered to be the second-largest diamond in the world, following only the 3,106-carat Cullinan diamond discovered in a mine in South Africa back in 1905.
Massive 404-Carat Diamond Discovered in Angola
http://abcnews.go.com/US/massive-404-carat-diamond-discovered-angola/story?id=36975814
A massive, 404-carat diamond was recovered in the southern African country of Angola, the Lucapa Diamond Company announced Monday.
The 404.2-carat diamond is the biggest diamond ever found in Angola and the 27th biggest recorded diamond in the world. Angola is one of the world's top four diamond producing nations, the company said.
The diamond was recovered from a Lulo Diamond Project mine in Angola's Lunda Norte province, the Australian company said in a statement. The Lulo mine accounts for nearly 75 percent of Angola’s annual diamond production, Lucapa said.
Lucapa Chairman Miles Kennedy said the "spectacular" white diamond could be valued at more than $20 million, the Australian Broadcasting Corporation reported.
This is the fourth 100-plus carat diamond recovered from Lulo to date, according to Lucapa.
Diamond weighing 404 carats is one of the largest ever found (Video)
http://money.cnn.com/2016/02/15/luxury/diamond-404-carat-lulo-project/
At 404.2 carats, it measures about 7 cm across -- about the length of a credit card, Lucapa said.
It was mined by the Lulo Diamond Project, a partnership between Endiama, Angola's national diamond company, Lucapa Diamond Company, and a private investor, Rosas & Pétalas.
New York-based diamond retailer Yehuda tested the new diamond's color and clarity, according to Lucapa, and categorized it as a Type IIa stone -- meaning it's virtually flawless.
It's also D-colored, or entirely colorless, Lucapa said. That is the rarest -- and likely most valuable -- color grade for a white diamond, according to the Gemological Institute of America.
The Lulo Diamond Project began exploring a 1,148 square-mile plot of land in central Angola in 2015, and the area has so far produced more than 60 "large special diamonds," the company said.
Lucapa, a relatively tiny diamond exploration company, is traded on Australia's ASX stock exchange under the symbol LOM. It suspended trading a few days in advance of the announcement. When Lucapa resumed trading on Monday, its shares jumped 30%.
Chairman Miles Kennedy told ABC Australia that the historical find could be worth about $20 million.
Angola is the world's fourth biggest country for diamond production. The 404.2 carat gem is now the largest to ever come out of the country, topping the 217.4 carat gem found in 2007 and dubbed the "Angolan Star."
The world record was a 3,106 carat gem, called the "Cullinan." It weighed in at a massive 1.3 pounds and was discovered in South Africa in 1905. That stone was cut to adorn the royal sceptor, one of Britian's crown jewels, and is on display at the Tower of London.
"Cullinan" was nearly triple the size of the second largest diamond on record, which weighed 1,111 carats and was found in November 2014.
The diamond discovery announced Monday would make it the 27th largest diamond ever recorded.
Miners In Angola Unearth 404-Carat Diamond Worth $14.3 Million
http://www.techtimes.com/articles/134008/20160216/miners-in-angola-unearth-404-carat-diamond-worth-14-3-milliion.htm
A team of miners working for an Australian company has dug up what could be the largest piece of diamond ever to be found in Angola. The massive 404-carat gemstone is believed to be worth about $14 million.
Miles Kennedy, chairman of the Perth-based Lucapa Diamond Company, said that they were not used to determining the value of a 400-carat diamond.
Miners from the company found the large diamond in one of its mines located some 300 miles east of Luanda, Angola's capital city.
Kennedy pointed out that when they first surveyed the 3,000-square kilometer (1,158-square mile) property, they thought that it was at a very remote area, being located 700 kilometers (435 miles) inland from the Angolan coast.
He said that discovering the massive diamond on this site is a form of vindication for all the years of hard work they have done.
According to Lucapa, the gemstone is the largest of its kind to be found in Angola. It is also the biggest one to be unearthed by a miner from Australia.
The company said that the diamond measures about seven centimeters (2.75 inches).
Angola is considered the fourth largest diamond-producing country based on value.
Kennedy has been in search of diamonds ever since he established the Ellendale mine in the Kimberley region of Western Australia during the 1990s.
When he went on to start The Lucapa Diamond Company, Kennedy brought his geology team from Ellendale to his mine in Angola.
"I started the Ellendale diamond mine and was there from 1993 to 2007, so 14 years, and in that time we only got one diamond greater than 10.8 carats, known as a special diamond," Kennedy said.
Through Lucapa, Kennedy has now discovered more than 100 special diamonds over the past six months alone.
He said that he plans to use the sizeable cash injection from the sale of the diamond to expand Lucapa's operations to include other areas.
The discovery of the 404-carat diamond comes months later after another firm, Lucara Diamond, unearthed a massive 1,111-carat diamond of its own in Botswana.
The Lucara find is considered to be the second-largest diamond in the world, following only the 3,106-carat Cullinan diamond discovered in a mine in South Africa back in 1905.
Massive 404-Carat Diamond Discovered in Angola
http://abcnews.go.com/US/massive-404-carat-diamond-discovered-angola/story?id=36975814
A massive, 404-carat diamond was recovered in the southern African country of Angola, the Lucapa Diamond Company announced Monday.
The 404.2-carat diamond is the biggest diamond ever found in Angola and the 27th biggest recorded diamond in the world. Angola is one of the world's top four diamond producing nations, the company said.
The diamond was recovered from a Lulo Diamond Project mine in Angola's Lunda Norte province, the Australian company said in a statement. The Lulo mine accounts for nearly 75 percent of Angola’s annual diamond production, Lucapa said.
Lucapa Chairman Miles Kennedy said the "spectacular" white diamond could be valued at more than $20 million, the Australian Broadcasting Corporation reported.
This is the fourth 100-plus carat diamond recovered from Lulo to date, according to Lucapa.