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.
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