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Lucapa’s diamonds shine bright: $10.5 million success in TAGS tender

Lucapa Diamond Company made waves with three extraordinary diamonds, collectively fetching $10.5 million at a recent tender in Angola. Hosted by Trans Atlantic Gem Sales (TAGS) and Angola’s Sodiam, the sale featured 20 diamonds, all of which were sold, surpassing reserve prices by 17%. With participation from 38 international companies, the tender, held from April 11 to 19, showcased 636.2 carats of rough, valued at $16.9 million.

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The trio of rough diamonds, weighing 203, 116, and 42 carats respectively, were unearthed from Lucapa’s Lulo mine in Angola during the first quarter of the year. Nick Selby, Lucapa’s managing director, expressed contentment with the acknowledgment of the diamonds’ exceptional quality. With an average price per carat of $29,000, the sale underscores the enduring strength of the high-end diamond market.

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