The 113 carat gem-quality white diamond found at Lulo. Image: Lucapa Diamond Company
KordaMentha has been appointed as voluntary administrators to Lucapa Diamond Company, owner of the Merlin diamond mine in the Northern Territory.
Lucapa first acquired Merlin in 2021 for $8.5 million, marking the project as the second Australian prospect to join the company’s portfolio of two existing diamond projects in Africa, joining the Brooking project in Western Australia.
Since it took the reins, Lucapa has completed a scoping study that estimated a 14-year mine life and a 4.4 million-carat resource.
This was followed up by a feasibility study completed in 2023, which determined market conditions to be unfavourable and temporarily put…
