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Record Angola Diamond Lifts Lucapa Sales

Jul 10, 2016 9:39 AM   By Rapaport News
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Lucapa Diamond Company‘s average selling price of rough soared almost six-fold in the first half boosted by the largest diamond in Angolan history.

Diamonds from Lucapa’s Lulo mine in Angola fetched $5,686 per carat, compared with $976 per carat a year ago, the company said. The miner’s half-year revenue spiked to $26.2 million versus $2.9 million a year earlier after it sold the 404-carat ‘4th February Stone’ for AUD 22.5 million ($16 million), or $39,580 per carat.

Excluding the supersized diamond, the average price was $2,421 per carat – still an increase over last year.

By volume, Lucapa sold 4,601 carats, a 54-percent increase over a year ago.

Lucapa recovered 30 “special” diamonds, each weighing 10.8 carats or more, from its alluvial mining operation during the second quarter that ended June 30. The company is carrying out a drilling program to identify the kimberlite source of the large stones.
Tags: 4th February Stone, Angola, large diamonds, lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Rapaport News
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