Industry News by Nemesis

Lucapa Sells Lulo Alluvial Diamonds for $6.8 Million

March 3, 2016

 Following the recent sale of a 404-carat diamond, Lucapa announced that it sold a further 1,349 carats of diamonds from the Lulo Diamond Project for AUD$9.6 million ($6.8 million).


This latest sale brings the total number of carats sold to 1,931 carats, which in the March quarter has netted the company AUD$32.5 million ($23.8 million).


Lucapa’s parcel of 1,349 carats of diamonds was sold at an average price of $5,075 per carat, further evidence for the market for large high-quality diamonds that have been recovered from Mining Blocks 6 and 8 at Lulo.


To date, the Lulo partners (which includes Lucapa, Endiama Angola’s national diamond mining company and private local partner Rosas & Petalas), have sold 12, 125 carats of alluvial diamonds from the project – for total gross proceeds of AUD$51.3 million ($38.2 million).


“The sale prices achieved in the March quarter continue to highlight the diamonds we are mining at Lulo are, on average, among the best quality gems in the world,” said Lucapa chief executive Stephen Wetherall.


Source: Idex

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