Lucapa Diamond and its joint venture partners Endiama and Rosas & Petals stepped up drilling program at the project kimberlites Lulo (Lulo) in Angola.
The company has commissioned a second drill rig, and the third unit is scheduled to enter service in the second quarter of this year. This will allow for the simultaneous drilling of several targets.
Kimberlite drilling program began in the middle of last year with the help of a mobile drilling rig Sedidrill, which has also been used to extend the auger drilling on alluvial project area.
"We have increased the performance of the drilling in the December quarter, getting a second rig, and look forward to the arrival of the project of our new, third rig Hanjin, which will enable us to further accelerate our drilling program on priority kimberlite purposes identified by our team of geologists," - said CEO Steven Vezeroll (Stephen Wetherall).
"Aeromagnetic survey will also allow to search the primary source of exceptional alluvial diamonds mined at Lulo," - he continues.
According to the Lucapa are, the average price per carat of diamonds from Lulo is $ 2983, which is the highest price per carat achieved for any operating mine in the world in 2016.
At the same time, in Lucapa reported that the opening of new units needed for the further publication of JORC resource estimate for the next quarter.
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Namibian cutting and polishing companies have turned to the official Windhoek requesting lower prices for diamonds in order to prevent a total collapse of the sector of the economy.
According to the edition of The Namibian, the situation is so severe that only 4 of the 13 previously prosperous diamond cutting factories continue to operate.
"We are talking about that in our industry crisis There is a problem in diamond prices." - says Burhan Seber (Burhan Seber), director of Hard Stone Processing, one of the Namibian cutting and polishing companies.
"Right now, cutting and polishing factories look like ghost towns The few companies that have not yet closed, barely kept alive." - he added.
The Namibian government and De Beers have equal shares in the Namibia Diamond Trading Company, which supplies diamonds to local cutting and polishing factories.
Diamond cutters around the world are faced with the lack of liquidity, the strengthening of the US dollar against major world currencies and a slowdown in China's economic growth.
Owners of diamond cutting factory in Namibia suggested that Windhoek can solve a crisis situation, providing cheaper diamonds, which would ensure the survival of enterprises.
Responding to a question whether NDTC consider reducing the price of their diamonds, senior manager of sales and marketing Richard Stinkemp (Richard Steenkamp) said that his company is constantly reviewing the cost of production.
"As industry conditions in 2015, we have reduced our prices for rough diamonds by 15% based on the price index, - he says -. However, there are problems with a decrease in stocks of finished products have accumulated cutters this year, due which is why this sector has encountered difficulties. "
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