Feb 01, 2019

First Tender of Lulo Diamonds Under Angola’s New Policy Realises an Exceptional Average Price of US$33,530 Per Ct

Lucapa Diamond Company Limited,  its partners  Empresa Nacional de Diamantes E.P. (Endiama), and Rosas & Petalas; and the Ministry of Petroleum and Natural Resources and Sodiam (Angola’s state diamond marketing company),  were all clearly jubilant about the results of the first  sale of exceptional diamonds from the Lulo Mine, 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,” Lucapa said in a statement announcing the results.

The Company is of the opinion that 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”.

Calling it a “historic” sale, Lucapa said the tender   marked the beginning of a new era for the Angolan diamond mining industry, as it was “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”.

With this sale, the  total sales of Lulo diamonds to date amounts to US$141 million at an average price per carat of US$2,105.

Lucapa said 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.

Pic Cap: The seven Special Lulo diamonds in the historic Angolan tender organised by Sodiam

Pic Courtesy:   Lucapa Diamond Company Limited