Lucapa Diamond Company Ltd. reported the sale of the eighth diamond parcel from its Lulo Diamond Project in Angola. The sale brings the total sales of Lulo diamonds to 10,194 carats.
The latest sale of a parcel of 817.6 carats of Lulo alluvial diamonds generated gross revenues of $654,000 with an average price of $800 per carat.
The eight parcels of Lulo diamonds have generated gross sale proceeds of about $15 million for an average overall selling price of $1330 per carat, underling the exceptional quality and value of Lulo gems, the company said.
Recent recoveries of large specials (diamonds weighing more than 10.8 carats) from Mining Block 8 at Lulo post the latest diamond sale include a 66.36 carat D-colour diamond.
Lucapa operates the Lulo Diamond Project in Angola’s Lunda Norte province.
Lucapa and its partners commenced alluvial diamond mining operations at Lulo in January 2015 and have successfully scaled up mining and processing operations to 20,000 bulk cubic metres per month.