Industry News by Nemesis

Angola’s Largest Diamond Sold for $16M

February 29, 2016

 Lucapa Diamond Company sold the record-breaking 404-carat diamond it recovered earlier this month in Angola for $16 million (AUD 22.5 million). 

The selling price of $39,580 per carat is the highest to date for a white diamond mined at the Lulo Diamond Project in the African nation, according to a statement February 29. The type-IIa, D-color gem was the largest recorded diamond ever found in Angola. 

The figure is further evidence of the positive sentiment in the market for large, high-quality gems such as those found at Lulo, the statement said. 

“The sale of a single diamond for $16 million underlines the huge potential of the Lulo diamond field to regularly produce gems which are both large and of world-class quality,” said Stephen Wetherall, Lucapa’s chief executive officer. 

Lucapa is the operator of the Lulo project has a 40-percent interest in the alluvial diamond mining operations. Endiama has a 32-percent interest and private Angolan partner Rosas & Pétalas holds 28 percent.


Source: Rapaport

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