Advanced Search

Angola’s Largest Diamond Sold for $16M

Feb 29, 2016 4:45 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
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
Similar Articles
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
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.