Lucapa's recently appointed chairperson, Stuart Brown, has praised Angola as the world's most significant diamond exploration destination.
He told shareholders that Angola was at the forefront of Lucapa's strategic direction.
Brown said that the country's diamond-rich districts were still untapped for primary source kimberlites.
“There is a well-accepted view from the exploration geologists that Angola has the greatest potential to become a diamond powerhouse with further discoveries of major new deposits,” said Brown.
Over the course of its 15-year presence in Angola, Lucapa has achieved significant success in alluvial diamond production, particularly through its flagship Lulo operation.
Brown underscored Lulo's remarkable success in obtaining premium pricing for its alluvial diamonds, which have generated around half a billion dollars in sales over the past fifteen years.
He also acknowledged Angola's progress in creating an environment that is friendly to international investment, as seen by the return of industry leaders such as Rio Tinto and De Beers to the African nation.
According to Mining Weekly, the Fraser Institute's recently released investment attractiveness index confirms these efforts.
Angola's 2023 ranking has improved from 59 out of 62 nations in 2022 to 47 out of 86 countries examined.
Brown emphasized that Lucapa had one of the busiest kimberlite bulk sampling programs in Angola, demonstrating the company's unwavering commitment to the discovery of primary kimberlite sources.
“Kimberlite exploration, like much other minerals exploration, is a long game, but we are now seeing real progress thanks to the capital investment made into a dedicated kimberlite bulk sampling plant,” he said.
Although Angola occupies the primary position on Lucapa's strategic agenda, the company's attention is also directed toward Australia, where it holds the Merlin project in the Northern Territory and the Brooking project in Western Australia.
In addition, Lucapa has implemented divestment initiatives for the Mothae diamond mine in Lesotho.
It has also elected not to extend its lease in Botswana when it expires at the end of the month.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
