PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company on Monday announced a $7-million capital development and upgrade programme at the Lulo diamond mine, in Angola.
The capital spend comes as Lucapa and its joint venture (JV) partners, Angola’s national diamond company Endiama and private partner Rosas & Petalas, executed documents to incorporate Sociedade Mineira de Lulo (SML).
Lucapa holds a 40% interest in SML, and acts as operator of the Lulo mine, while Endiama holds a 32% interest and Rosas a 28% interest.
SML would now hold the Lulo mining licence.
Lucapa said on Monday that the $7-million capital investment plan would incorporate new earthmoving equipment, vehicles for the alluvial and kimberlite exploration programmes and camp upgrades.