Industry News by Nemesis

Lucapa Sells Nearly $7M of Diamonds from Angola’s Lulo Mine

March 6, 2016

Lucapa Diamond Company and local Angolan partner Roses & Petalas sold a further 1,349 carats of diamonds from the Lulo Diamond Project in Angola for gross proceeds of $6.8 million (AUD 9.6 million). The average selling price was $5,075 per carat. 

Including the sale of a record 404-carat diamond for $16 million, gross revenues from 1,931 carats of Lulo diamonds have amounted to $24.2 million in the quarter ending March 2016, according to a Lucapa statement March 3. 

In total, the Lulo partners have sold $38.2 million worth of diamonds in U.S.-dollar invoiced sales to date during the exploration and mining phases, at an average price of $3,147. 

“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 Stephan Wetherall, Lucapa’s chief executive officer.

 

Source: Rapaport

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