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Lucapa Sells Seventh Parcel From Angolan Mine for $1.5M

Nov 19, 2015 10:51 AM   By Rapaport News
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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
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