Lucapa Diamond Announce Execution to Incorporate Sociedade Mineira do Lulo

Lucapa Diamond Company (ASX:LOM), Endiama E.P., Angola’s national diamond company and private partner Rosas & Petalas have announced the execution of documents to incorporate Sociedade Mineira do Lulo, the new alluvial mining company for the Lulo Diamond Project in Angola.
As quoted in the press release:

Lucapa is a 40% shareholder in SML and operator of the Lulo alluvial diamond mining operations. Endiama holds a 32% interest and Rosas 28%. SML will now hold the Lulo alluvial diamond mining licence, which was gazetted in July 2015.
Following the formal execution of the SML incorporation documents, Lucapa has immediately committed to a US $7 million capital development and upgrade program at Lulo, which includes new Caterpillar earth moving equipment, vehicles for both the alluvial diamond mining and kimberlite exploration programs and camp upgrades.

Click here for the full press release.