Sunday, May 19, 2024
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Lucapa Diamond Sells Trio of Diamonds for $10.5M in Lulo Tender

Subiaco, Western Australia—Lucapa, the mining company, announced on Monday the successful tender of three diamonds from the Lulo alluvial mine in Angola, fetching a total of $10.5 million.

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These diamonds, categorized as Type IIa, weighed 203 carats, 116 carats, and 42 carats respectively. The transaction marks an average price of $29,000 per carat, a testament to the robustness of the high-end diamond market, as noted by Lucapa’s CEO and managing director, Nick Selby.

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Among the trio, the 203-carat diamond commanded the highest price, highlighting the exceptional quality and value of the stones recovered from the Lulo mine.

The Lulo mine is operated by a consortium comprising Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas, and the state-owned Endiama E.P. These companies jointly announced the successful recovery of the diamonds during the first quarter of the year.

The tender, facilitated by Sodiam E.P., Angola’s state-owned diamond trading company, concluded on April 19, marking the inaugural tender of Lulo diamonds for 2024. Nick Selby expressed satisfaction with the recognition of the diamonds’ outstanding quality by diamantaires participating in the competitive bidding process.

“This is the first tender of Lulo diamonds for 2024, and we are pleased to see that the outstanding quality of these Type IIa diamonds has been recognized by the diamantaires who competitively bid for the stones,” Selby remarked.

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