Lucapa claims to have discovered another record breaking diamond! Reports are that this one weighs 404 carats and is from Lucapa’s “Lulu Project” which is located in Angola. This diamond represents the 27th largest diamond ever discovered in the world, and is the largest diamond produced by this company. While Lucapa has yet to estimate the value of the diamond, there is speculation that it could be worth more than $20 million. Imagine a diamond weighing 404 carats. It boggles the mind, but give me a little time and I think I could get used to it.
There is some speculation about the timing of this discovery by Lucapa since it falls on the heels of a temporary suspension of trading in the company’s securities. The discovery of a 404-carat piece of diamond rough by Lucara couldn’t possibly come at a better time. Lucapa has discovered sixty extremely large pieces of diamond rough in the Lulo diamond field since mining operations commenced in August of last year. Interestingly enough, they are still in the exploration process of developing the mine. They have yet to discover the kimberlite pipe that is the source of these diamonds.
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Photo Credit: Lucapa Diamonds via The Diamond Loupe.