Lucapa Diamond says the Joint Ore Reserves Committee (JORC) classified inferred alluvial diamond resource for the Lulo diamond concession in Angola has grown by 9% to 249,000 carats as of December 2024 compared to 228,400 carats in the prior period.It said this is the seventh consecutive year in which resource carats have increased.
However, Lucapa said the modelled diamond values decreased by 17% from $1,897 per carat in 2023 to $1,581 per carat on average in 2024.
The updated Lulo alluvial resource was estimated after taking into account the mining depletion to the end of 2024 by SML mining operations, during which time 25,341 carats of diamonds were recovered.
It also factored in extensive resource definition work involving 7,197 auger drill holes and 150 pits, including drilling in Mining Blocks 129 and 137 in the south as well as sales of diamonds during the year totalling $54.5 million at an average diamond price of $1,980 per carat.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
Exclusive
Yoram Dvash: Industry unity, producer leadership and marketing investment key to natural diamond's future
The natural diamond industry is navigating a period of significant transition, but there are increasing signs that the foundations for a stronger and more positive future are being built, according to the World Federation of Diamond Bourses (WFDB)...
29 june 2026
AWDC: First fully traceable artisanal diamonds from DRC sold on the international market in Antwerp
In a historic milestone for the diamond industry, fully traceable, artisanal diamonds from the Democratic Republic of Congo have been sold on the international market for the very first time in Antwerp. Below, Ine Tassignon, AWDC spokesperson, provides...
22 june 2026
Natural diamonds most desired luxury jewellery, Gen Z spending double baby boomers, reveals De Beers report
Natural diamonds remain the most desired jewellery item among US consumers, with Millennials and Gen Z driving demand value and spending, according to De Beers Group’s The Diamond Report, which draws on the biannual Diamond Acquisition Study of 18,500...
15 june 2026
Edahn Golan: India’s lab-grown diamond exports surpass natural diamonds by volume, yet value gap widens
India’s diamond industry has reached a historic turning point. In March and April 2026, the volume of lab‑grown diamond exports overtook that of natural diamonds, with lab‑grown stones accounting for 51% and 50.4% of total export volume respectively...
01 june 2026
Dr M’zée Fula-Ngenge: Kimberley Process failing Africa
The Kimberley Process (KP) is failing Africa, and the world's definition of a “conflict diamond” is a moral and legal absurdity, according to the African Diamond Council (ADC) chairperson M’zée Fula-Ngenge. The following exclusive...
18 may 2026
