Industry News by Nemesis

Lucapa To Sell Diamonds Via Angola's New Diamond Marketing System

September 17, 2018

 

Lucapa Diamond Company said it is supporting its Angolan government partners as Angola establishes the technical regulations for the recent changes in its diamond marketing policy being introduced as part of the government’s diamond sector reforms.

 

As part of these discussions, Lulo alluvial mining company, Sociedade Mineira Do Lulo (SML) is preparing to sell certain select large premium-value diamonds in what will be the first Lulo production to be sold through the new marketing channels.

 

The diamonds were extracted from run of mine production at Lulo and held over from previous sales in anticipation of the new marketing policy being introduced. They include six top-color Type IIa white diamonds weighing a total of 449 carats, along with a 46 carat pink diamond (pictured above).

 

Lucapa Managing Director Stephen Wetherall commented: “The discussions with our Angolan partners regarding the policy changes taking place in the Angolan diamond sector have reached a stage where we are now able to plan for the sale of these large premium-value Lulo diamonds held over from previous sales.”

 

“We look forward to marketing these exceptional diamonds as soon as the necessary arrangements are put in place to continue showcasing Angolan diamonds to the world.”

 

The large and premium-value diamonds noted above were excluded from recent sales of Lulo diamonds. The latest run of mine production parcel of 2,531 carats (excluding the 114 carat, 85 carat and 62 carat diamonds) achieved gross sale proceeds of US$2.5 million (A$3.4 million), representing an average price per carat of US$985 (A$1,355).

 

In addition, Lucapa and the government of the Kingdom of Lesotho announced the first export of diamonds from the high-value Mothae kimberlite diamond mine in Lesotho The parcel of around 2,500 carats of Mothae diamonds recovered from the ongoing bulk sampling program have been exported to the global diamond trading centre of Antwerp in Belgium for cleaning and valuation. This parcel includes yellow diamonds weighing 89 carats and 25 carats, other Special diamonds of up to 28 carats as well as small light pink diamonds.

 

Source: Idex

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