Lucapa Diamonds Sells Angola Rough for US$1.5 Mil / $1,120 Per Carat

Mining and Exploration
16/11/2015 10:55

Lucapa Diamonds (Australia) sold its seventh parcel of diamonds from the Lulo Project in Angola for a gross revenue of US$1.5 million. The parcel comprised 1,339 carats of Lulo alluvial diamonds, representing an average selling price of US$1,120 per carat. The latest sale brings the total proceeds to from the sale of seven parcels weighing 9,377 carats to US$14.4 million, for an average selling price of US$1,532 per carat. As with previous diamond sales, Lulo will use the latest proceeds to fund ongoing operations at Lulo. Lucapa and its partners commenced alluvial diamond mining operations at Lulo in January 2015 and have scaled up mining and processing operations to 20,000 bulk cubic metres per month.