Diamond News

Diamond Buyers Club

Australia’s Lucapa Diamond (ASX:LOM) said Monday it had achieved gross proceeds of $1.7 million (A$2.1 million) from selling 2,072 carats recovered at its prolific Lulo mine in Angola.

The sale, the second this year, included a 1.9-carats vivid pink diamond and a 44-carats rock, the largest in the parcel.

The figure obtained represents an average price per carat of $804, the company said, adding that the transaction has taken proceeds from Lulo diamonds sales so far this year to $10.8 million (A$13.5 million) at an average price per carat of $1,731.

Figure obtained represents an average price per carat of $804.

It’s been a good start of the year for Lucapa so far, with the company finding some important diamonds including a 43-carat yellow stone, the largest coloured gem-quality rock ever recovered at Lulo.

The project, located 150km from Alrosa's Catoca mine, the world's fourth largest diamond mine, hosts type-2a diamonds which account for less than 1% of global supply.

Lucapa has a 35-year license for Lulo, which early last year bore a 404.2-carat white diamond, considered the largest diamond ever recovered in Angola and the biggest diamond ever found by an Australian company.

It also holds a 70% interest in the Lesotho-based Mothae project, located within 5 km of Gem Diamonds' (LON:GEMD) Letšeng mine, which last month yielded a 910-carat rock, the fifth biggest gem-quality diamond ever found.

Angola is the world’s No.4 diamond producer by value and No.6 by volume. Its industry, which began a century ago under Portuguese colonial rule, is successfully emerging from a long period of difficulty as a result of a civil war that ended in 2002.

The post Lucapa fetches $1.7 million in diamond sales from Lulo appeared first on MINING.com....

Read more from our friends at Mining.com

Pin It

Diamond Buyers Club

twitter facebook 

Follow us on Twitter and Facebook

Contact Us

Houston, TX USA