Lucapa Diamond has reported further progress by the committee tasked with finalising the Project Lulo Joint-Venture Mineral Investment Contract (MIC).
It said the MIC committee met in Luanda, Angola last week to progress the agreement and is expected to meet again in the next fortnight to continue working towards finalising the outstanding details.
The new MIC proposes to increase Lucapa’s interest from 39% to 51% in the Project Lulo Joint-Venture which is exploring for the kimberlite source.
Lucapa said the final stages of the process will be the signing off by the ministry before it is gazetted. Meanwhilw, the mining company said the kimberlite bulk sampling programme is currently stockpiling a sample of L130/01 and will soon commence processing samples from L349, L137 and L130.
Lucapa’s geologists will review the kimberlite bulk sampling programme in the first quarter of 2025 with an internationally renowned independent kimberlite exploration expert to reassess the future programme targets and improve the prioritisation methodology.
It said two samples from L188 were treated during the fourth quarter, with no diamonds recovered.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
