Australian company Lucapa finds huge diamond in Angola Read more: http://www.smh.com.au/business/mining-and-resources/australian-company-lucapa-finds-huge-diamond-in-angola-2016

The 404 carat diamond was found in Angola by Australian-listed company Lucapa Diamond.

The company, citing Wikipedia, said it was the 27th biggest diamond found in the world.

The diamond came from the Lulo mine, 40 per cent owned by Lucapa.

Lucapa shares rose 29 per cent on Monday after the announcement.

A photograph released by the company showed the stone measuring about seven centimetres in length.

Shares in Lucapa, which is based in West Perth, were 9.5¢ higher at 41.5¢ in afternoon trading on Monday. They have held the position in Tuesday morning’s trading.

Lucapa chief executive Stephen Wetherall said the company would continue efforts to find the source of the huge diamond.

The find came just months after another company, Lucara Diamond, found a 1111 carat diamond in Botswana.

It was said to be the world’s second-largest diamond, behind the 3106 carat Cullinan diamond found in South Africa in 1905.

Read more: http://www.smh.com.au/business/mining-and-resources/australian-company-lucapa-finds-huge-diamond-in-angola-20160215-gmu776.html#ixzz40NYbrsgS
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Read more: http://www.smh.com.au/business/mining-and-resources/australian-company-lucapa-finds-huge-diamond-in-angola-20160215-gmu776.html#ixzz40NYMgn6i
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