Industry News by Nemesis

Sales Steady at Lulo Diamond Mine

April 14, 2017

The latest rough diamond sale from the Lulo alluvial mine in Angola garnered $2.5 million (AUD 3.3 million), Lucapa Diamond Company reported Tuesday. 

The sale, which was Lulo’s third of the year, saw a parcel containing 1,919 carats of rough fetch an average price of $1,317 per carat, Lucapa said. 

So far this year, gross proceeds from Lulo have totaled $13.2 million (AUD 17.3 million) at an average price of $2,055 per carat, the miner added.

The previous sale, which took place in February, included a 227-carat, type IIa, D-color diamond that helped boost the average price for the year. The next sale will include a 92-carat, D-color diamond recently recovered at the mine.

Lucapa owns the Lulo deposit in partnership with Angola’s state-owned diamond miner, Endiama, and local company Rosas & Petalas.

 

Source: Rapaport

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