Lucapa Diamond Co.'s Second Sale 2017: $6.9M at US$4,446 Per Carat

Mining and Exploration
03/03/2017 12:08

Lucapa Diamond Co. and its partners Empresa Nacional de Diamantes E.P. (“Endiama”) and Rosas & Petalas have announced the results of their second rough diamond sale from the Lulo Project in Angola: The parcel of 1,552 carats achieved gross sale proceeds of US$6.9 million (A$9.1 million). This represents an exceptional average price per carat of US$4,446 (A$5,836), bringing the total gross proceeds achieved at Lulo to date in 2017 to US$10.7 million (A$14.0 million). Lucapa has thereby reached the A$100 million ($75 m) milestone from sales of Lulo diamonds.

The latest sale parcel included the 227 carat Type IIa D-color diamond recovered in February 2017 from new Mining Block 28 at Lulo. For commercial reasons in the industry, the sale prices of large diamonds, unless iconic, are not individually disclosed. The diamonds were sold by Lulo alluvial diamond mining company Sociedade Mineira Do Lulo (SML) (Lucapa 40% owner and operator) through the Angolan Government’s diamond arm SODIAM. SML continues to recover large and premium-value diamonds from its ongoing alluvial mining operations at Lulo, with the inventory for the next diamond sale including a 62 carat diamond, a 65 carat diamond and a 25 carat stone.