Australian company Lucapa finds huge diamond in Angola

A diamond found in Angola by a small Australian-listed company, Lucapa Diamond, would make for a huge sparkler, according to the Sydney Morning Herald.

At 404 carats, Lucapa said it was the biggest diamond found in Angola and the biggest ever discovered by an Australian company.

China iron ore imports fall from record

Iron ore imports by China dropped last month from a record as steelmakers in the largest producer reined in output before a national holiday, according to the Sydney Morning Herald.

Overseas purchases fell to 82.19 million tonnes from 96.27Mt a month earlier, according to customs data on Monday. In 2015, imports rose 2.2% to 952.72Mt.