Angolan officials led by the country’s ambassador to Botswana recently toured Safdico Botswana where diamonds from Lulo Mine are being polished.
Safdico has secured rights to cut and polish up to 60% of Lulo’s annual production.
Image credit: Lucapa
Lulo Mine, which is 40%-owned by Lucapa is said to be targeting a production of 60,000 carats this year.
It has produced 14 +100 carat diamonds since its commissioning four years ago.
“We are excited with this deal as it is aligned to Safdico’s visionary plans to become a key catalyst of the next growth phase of the diamond industry downstream activities,” Safdico international resident director, Rutang Moses was quoted as saying by Mmegi.
Ambassador Beatriz Antónia Manuel de Morais and her delegation inspected a sample of stones cut from a 128-carat stone processed at Safdico’s diamond factory.
One of the smaller pieces, a 5.85 carat stone was said to carry a valuation of up to $7,000.
“Angola is looking for investors to contribute to economic diversification and we are open for partners such as Safdico, Botswana and others from across the globe,” she said.
“Mining and diamonds in particular have been identified as one of the sectors we can use to diversify from oil.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
