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Angola’s Largest Diamond Sold for $16M

Feb 29, 2016 4:45 AM   By Rapaport News
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RAPAPORT... Lucapa Diamond Company sold the record-breaking 404-carat diamond it recovered earlier this month in Angola for $16 million (AUD 22.5 million).

The selling price of $39,580 per carat is the highest to date for a white diamond mined at the Lulo Diamond Project in the African nation, according to a statement February 29. The type-IIa, D-color gem was the largest recorded diamond ever found in Angola.

The figure is further evidence of the positive sentiment in the market for large, high-quality gems such as those found at Lulo, the statement said.

“The sale of a single diamond for $16 million underlines the huge potential of the Lulo diamond field to regularly produce gems which are both large and of world-class quality,” said Stephen Wetherall, Lucapa’s chief executive officer.

Lucapa is the operator of the Lulo project has a 40-percent interest in the alluvial diamond mining operations. Endiama has a 32-percent interest and private Angolan partner Rosas & Pétalas holds 28 percent.
Tags: Angola, ENDIAMA, large diamonds, Lucapa Diamond Company, Lulo, Lulo Diamond Project, Rapaport News, Rosas & Pétalas
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