Angolan flag
Source: Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Mining at Lucapa Diamond Company Ltd (ASX:LOM)‘s Lulo mine in Angola has been cut short through a blockade of all entrances by local community leaders, with the company saying that mine workers had been prevented from entering or leaving the site.

Processing of stockpiled ore is continuing, although downtime has been called at the processing plant, since workers who live outside the mine gates have been prevented from entering.

Alluvial mining and kimberlite bulk sampling have also been interrupted.

Lucapa said its main priority was ‘the ongoing safety and wellbeing of its employees’, although it also acknowledged that the blockade was currently peaceful.

It also noted that production results for the first quarter of 2025 could be impacted by the blockade if it was not resolved soon, since stockpiled gravel was being depleted.

The company defined demands that had been made by community leaders to Lulo’s operating entity Sociedade Mineira Do Lulo as ‘unreasonable’, and said that issues being pursued by the group in question are ‘the responsibility of the local authorities to provide’.

In a statement authorised by the board, managing director and CEO Alex Kidman said Lucapa had provided consistent support to the local community and followed its social responsibilities, but that the new demands were ‘unreasonable and unexpected’.

“Discussions are underway between the community leaders and a government delegation including representatives of the Regional Governor to peacefully end the blockade, however no progress has currently been made,” he said.

At 14:03 AEDT, shares in Lucapa were trading at 1.7 cents – a fall of 5.55% since the market opened.

Join the discussion: See what HotCopper users are saying about Lucapa and be part of the conversations that move the markets.


lom by the numbers
More From The Market Online

Brookside broadens non-operated oil and gas development program

Brookside Energy has secured non-operated interests in five additional proposed horizontal wells across three areas the…

Pro Medicus signs $43M, seven-year contract with Virtua Health in US

Pro Medicus' wholly-owned US subsidiary, Visage Imaging, has signed a seven-year, $43 million contract with Virtua…

Lachlan Star spinning the bit to expand high-grade gold discovery at New Waverley

Lachlan Star has commenced drilling targeting extensions to the high-grade gold discovery beneath Waverley Pit and…
HotCopper Daily Market Trends Graphic

Wednesday’s HotCopper trends: NEXTDC, Energy Technologies, BSA and other daily topics

Wednesday’s HotCopper trends: NEXTDC, Energy Technologies, BSA and other daily topics as we wrap up today's…