DiamondBuzz
Lucapa Diamond Company Enters Administration, Seeks Buyers for Lulo Mine and Other Key Assets
Lucapa Diamond Company has entered voluntary administration and is now pursuing a dual-track process of recapitalization and potential sale. The company’s administrators, KordaMentha, will conduct an urgent review of Lucapa’s operations, which span across several diamond projects including Brooking Diamonds, Heartland Diamonds, and Australian Natural Diamonds.
Among Lucapa’s most valuable assets is its 51% stake in the high-value Lulo mine in Angola. Other key interests include the Merlin diamond project and the Brooking exploration project in Australia. Earlier, Lucapa had divested its Mothae mine in Lesotho to streamline operations amid industry headwinds and weak diamond demand.
The move into administration follows a difficult year for Lucapa, with the company reporting a net loss of $1.5 million in 2024 and a 31% drop in revenue to $54.5 million, driven by falling diamond prices. In response, the company had raised $1.9 million through a share placement and purchase plan.
Despite financial pressures, Lucapa increased its stake in the Lulo mine from 39% to 51% in March, aiming to boost returns from the project. The company is now actively seeking investors or buyers for its assets, with administrators inviting expressions of interest. Meanwhile, the Australian Securities Exchange has suspended trading of Lucapa shares, citing concerns over the company’s financial viability.
DiamondBuzz
Akoirah By Augmont Celebrates The Sibling Bond With Laboratory-Grown Diamond Rakhis
Contemporary, Customisable Rakhis Blend Traditional Symbolism With Modern Fine Jewellery Sensibilities For A Meaningful Raksha Bandhan Gift.
This Raksha Bandhan, Akoirah by Augmont brings a contemporary expression to one of India’s most cherished celebrations with its new collection of laboratory-grown diamond rakhis, combining traditional symbolism with modern jewellery design. Created for the evolving Indian consumer who seeks meaningful and distinctive festive gifting, the collection transforms the traditional rakhi into a keepsake that goes beyond the occasion with customisable designs available in options such as initials, zodiac signs, and other personalised motifs tailored to individual style and preference.
The collection features an assortment of handcrafted designs incorporating meaningful motifs such as the evil eye, Swastika and Ik Onkar, alongside personalised initial-led designs. Each motif brings its own symbolism, representing protection, prosperity, faith and personal connection while laboratory-grown diamonds add a refined, contemporary touch to the traditional expression of siblinghood.
Designed across earthy and versatile colour palettes, the rakhis pair beaded elements in shades of black, brown and blue with diamond-studded motifs. From the understated elegance of a diamond initial rakhi to statement-making designs featuring the evil eye and spiritual symbols, the collection offers options that cater to different personalities and styles.
With this collection, Akoirah by Augmont seeks to elevate festive gifting by bringing fine jewellery sensibilities into a traditionally rooted celebration. The rakhis are designed not merely as festive accessories, but as meaningful pieces that can be cherished beyond Raksha Bandhan, reflecting the brand’s approach to making jewellery more personal, contemporary and relevant to everyday occasions.
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