LUCAPA DIAMOND COMPANY: Lulo diamonds sell for A$22.9M in Historic Tender

Lucapa Diamond Company made the following announcement on February 1:

Lucapa Diamond Company Limited (ASX: LOM) (“Lucapa” or “the Company”), Empresa Nacional deDiamantes E.P. (“Endiama”), Rosas & Petalas, the Ministry of Petroleum and Natural Resources and sodium (state diamond marketing company), are pleased to announce the outcome of the first historic sale of exceptional diamonds under Angola’s new diamond marketing policy. The seven large and top-quality diamonds weighing 498 carats from the Lulo alluvial mine that were offered for sale via electronic tender organised by Sodiam in Luanda achieved a total sales price of US$16.7 million (A$22.9 million), representing an average price of US$33,530 per carat. The exceptional sale prices achieved for the Lulo diamonds reflected the highly-competitive bidding from leading international diamantaires and large stone manufacturers from eight countries that participated in the tender

The sale marked the beginning of a new era for the Angolan diamond mining industry, being the first Angolan production offered for sale via competitive tender under the new diamond marketing policy enacted by the Angolan President, His Excellency Joao Lourenco.

The sale brought total sales of Lulo diamonds to date to US$141 million at an average price per carat of US$2,105.A joint media release relating to the tender results was issued overnight in Angola. Lucapa will publish an official translation of this joint media release on the Company’s website as soon as it is available.

The original announcement can be found here.