2-12-2019
Lucapa Diamond is in advanced discussions with the Angolan government to secure above 50 percent from its original 39 percent holding in the Project Lulo joint venture.
This mine located in Angola generates about US$150 million in revenue every year with an average price per carat of around US$1900. Currently, the Angola’s national diamond company, Endiama owns 51 percent stake and Rosas & Petalas holds a 10 percent. Lucapa has a 30 percent interest and is the operator of the kimberlite exploration project.
Lucapa hopes to reach an agreement in the first quarter next year. The company’s stock rose 5% in early trading Thursday following the announcement.
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