Industry News by Nemesis

SML Rakes in $3 Million From Latest Angola Diamond Sales

May 21, 2018

 

Lucapa Diamond said Angola’s Sociedade Mineira Do Lulo (SML), which it owns together with Endiama and Rosas & Petras, has sold 1,632 carats for $3 million, representing an average price per carat of $1,838. 

The parcel sold did not include the gem-quality 46 carat pink diamond or other large Special diamonds recovered recently from new Mining Block 4 at Lulo, it said.


SML sold two parcels of Lulo alluvial diamonds in the first quarter weighing 6,242 carats for gross proceeds of $10.8 million, representing an average price per carat of $1,731. 


Lulo recovered 58 specials or diamonds weighing more than 10.8 carats in the first quarter, a 53 percent increase on the previous corresponding quarter. 


SML had cash of $13.1 million as at 31 March, and a diamond inventory of 3,047 carats, up 20 percent on the corresponding quarter.

 

Image credit: Lucapa Diamond

 

Source: Rough&Polished

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