Yesterday, Lucapa Diamond Mining announced new objective. Increasing output at the enormous diamond source. In the next two years, with a targeted approach to alluvial diamond mining deposit. The Angola-based Australian company announced during their Annual General Meeting on Monday 27 May 2019. Taking into account equipment and human resources, the total cost to the company is USD$12 million.
Addressing the audience at the AGM, Chairman Miles Kennedy said: “Put simply, Lucapa’s goal is to grow as a producer. We want to produce high-value diamonds on a sustainable and profitable basis from our two African diamond mines – Lulo in Angola and our new Mothae mine in the mountainous diamond-rich Kingdom of Lesotho. And while it is yet to be recognised in our share price, we have put in place the foundations to achieve that goal.”
All things being equal, this should lead to job creation and resources put back into mining communities. I look forward to monitoring this situation over the next couple of years.