Lucapa to Start Mining Alluvial Diamonds at Lulo in New Year

Lucapa Diamond Company Ltd. (ASX:LOM) announced that alluvial diamond mining will start at its Angola-based Lulo diamond concession in January 2015.

Its third sale of diamonds from Lulo will take place in February 2015.

As quoted in the press release:

This follows the recent announcement that Lucapa and its fellow project shareholders had signed a comprehensive mining agreement providing the newly formed mining company with a 35 year licence to mine alluvial diamonds at Lulo. The licence covers a 218km where Lucapa has been recovering alluvial diamonds of exceptional size, colour, quality and value from its bulk sampling activities.

As part of the diamond mining preparations, Lucapa is evaluating various debt financing options to fund the following Phase 1 optimisation and technology improvements.

Click here to read the full Lucapa Diamond Company Ltd. (ASX:LOM) press release.