Africa Mining: Lucapa acquires $31.6-million from latest Angolan diamonds sale

The latest sale brought gross proceeds from Lulo diamond sales for the year-to-date to $31.6-million, at an average price of $1 668/ct.

Lucapa Diamond Company sold 4 126 ct of diamonds, achieving proceeds of A$9.6-million at its eighth alluvial diamond sale for the year. Sold in conjunction with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, the diamonds from the Lulo project in Angola averaged A$2 332/ct.

The next sale of Lulo diamonds will include the 129 ct and 78 ct Type IIa D-colour gems recovered from mining block 6. This sale will take place in either December or early in 2018.

Lucapa MD Stephen Wetherall said that the latest large gem-quality diamond recoveries reinforced the “extraordinary nature” of the Lulo diamond field and its large-stone kimberlite potential. “This is the eighth +100 ct diamond the Lulo partners have recovered to date and the seventh in just two-and-a-half years of commercial mining from relatively low throughout rates.”

The largest of these +100 ct Lulo diamonds is the 404 ct 4th February Stone, which produced a 163 ct flawless gem that forms part of a jewellery piece and that went on sale in Geneva, Switzerland, earlier this month. This 163 ct Lulodiamond has been described by auctioneer Christie’s as the largest D-colour flawless cut diamond ever put up for auction.(source:miningweekly.com)