Lulo may be the most valuable mine in Angola. Mining starts this January.

diamantes-angola

Lucapa Diamond, an Australia-based company, has announced that it will start mining at its Lulo alluvial concession in Angola this month of January. The company shares value has risen significantly given the fact that Lulo, located about 700 kilometers east of Luanda, could be even more valuable than the country’s biggest gem producer, Catoca, which is also the world’s fourth-largest kimberlite mine.

According to global mining news website ‘Mining.com’: “The project, a joint venture between the company and the Angolan government, hosts type-2a diamonds, which the company qualifies as “the world’s rarest and most valuable gems”. These kinds of precious rock account for less than 1% of global supply and, according to Lucapa, the world’s most famous large, white, flawless diamonds belong to this category”.

The site also points out that Angola is the world’s No.4 diamond producer by value and No.6 by volume. Its industry and that the Angolan government has recently reduced taxes and cut state ownership requirements “as it seeks to rekindle the industry after the global financial crisis forced mines to close”.

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