News

Advanced Search

Lucapa Sells Seventh Parcel From Angolan Mine for $1.5M

Nov 19, 2015 10:51 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Lucapa Diamond Company sold a seventh parcel of precious stones from the Lulo diamond project in Angola, the world’s fourth biggest producer by value, for $1.5 million (AUD 2.1 million), the Australian miner said.

The average price generated from the sale of 1,339 carats of Lulo alluvial diamonds was $1,120 per carat, the company said in a statement November 16.

The latest transaction brings the total proceeds from seven parcels of Lulo diamonds to $14.4 million, with an average price of $1,532 per carat from 9,377 carats in all, the statement said. As with previous sales, the partners will use the funds to finance ongoing operations at Lulo.

Lucapa, dual listed on the Australian Securities Exchange and the Frankfurt Stock Exchange, started mining at the site in January and operates in partnership with the Angolan state company Endiama as well as Rosas & Petalas, a private firm. Since then, Lucapa has grown mining and processing operations at the location to 20,000 bulk cubic meters per month, it said in the statement.
Tags: Angola, Lucapa Diamond Company, Lulo, Rapaport News
Similar Articles
Stornoway Godin.Stornoway Names Patrick Godin as CEO
Nov 15, 2018
Stornoway Diamond Corporation has appointed a new CEO after reporting its third successive quarterly loss.
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.