Advanced Search

Lucapa Sells Nearly $7M of Diamonds from Angola’s Lulo Mine

Mar 6, 2016 10:07 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Lucapa Diamond Company and local Angolan partner Roses & Petalas sold a further 1,349 carats of diamonds from the Lulo Diamond Project in Angola for gross proceeds of $6.8 million (AUD 9.6 million). The average selling price was $5,075 per carat.

Including the sale of a record 404-carat diamond for $16 million, gross revenues from 1,931 carats of Lulo diamonds have amounted to $24.2 million in the quarter ending March 2016, according to a Lucapa statement March 3.

In total, the Lulo partners have sold $38.2 million worth of diamonds in U.S.-dollar invoiced sales to date during the exploration and mining phases, at an average price of $3,147.

“The sale prices achieved in the March quarter continue to highlight the diamonds we are mining at Lulo are, on average, among the best-quality gems in the world,” said Stephan Wetherall, Lucapa’s chief executive officer.
Tags: Angola, large diamonds, Lucapa Diamond Company, Lulo, Lulo Diamond Project, Rapaport News, Rosas & Pétalas
Similar Articles
© 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.