https://newsletter.mw.creamermedia.com
Diamonds|Exploration|Petroleum|Projects|Resources
Diamonds|Exploration|Petroleum|Projects|Resources
diamonds|exploration|petroleum|projects|resources

Lucapa increases stake in Lulo exploration JV to 51%

Members of the MIC committee and the JV partners, with Lucapa CEO Alex Kidman and group mineral resource manager Richard Price in Angola.

Members of the MIC committee and the JV partners, with Lucapa CEO Alex Kidman and group mineral resource manager Richard Price in Angola.

20th March 2025

By: Creamer Media Reporter

     

Font size: - +

Australia-listed Lucapa Diamond Company has finalised the mineral investment contract (MIC) for its Lulo joint venture (JV) in Angola, increasing its stake to 51%.

Following a three-day meeting in Angola, all outstanding details were agreed upon by the MIC committee and JV partners, including Endiama, Rosas & Petalas, and Lucapa. The final agreement has been submitted to the Angolan Ministry of Mineral Resources and Petroleum for formal signing.

A signing ceremony is expected to be arranged soon, with Lucapa set to update the market once a date is confirmed.

“Securing a majority stake of the Lulo exploration JV is a pivotal outcome for Lucapa because it will deliver us an increased share of any exploration success and the finalisation of the new MIC is something a number of our shareholders have been awaiting for a long time. I’d like to thank the MIC committee for its commitment to finalising this process, which I have been determined to settle since becoming CEO," said Lucapa MD and CEO Alex Kidman.

"The progress with the MIC shows Angola’s commitment to Lucapa and to Lulo, as one of the highest profile diamond projects in the country and we look forward to continuing to work with our partners to find the source of Lulo’s incredible diamonds.”

Edited by Creamer Media Reporter

Comments

Showroom

Weir
Weir

Weir is a global leader in mining technology. We recognise that our planet’s future depends on the transition to renewable energy, and that...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.1 0.177s - 127pq - 2rq
Subscribe Now