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Lucapa Achieves $1,212/ct from Lulo Diamond Sale

Sep 6, 2016 6:57 AM   By Rapaport News
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Lucapa Diamond Company sold $4.4 million (AUD 5.8 million) of rough diamonds from its Lulo mine in Angola at an average price of $1,212 per carat.

The parcel of 3,642 carats included a 28.5-carat light pink diamond – the largest and most valuable colored diamond sold from the mine to date, the company said. Also contained in the batch were a 49.8-carat, type-IIa white diamond and two light fancy yellows weighing 11.9 carats and 10.9 carats.

The sale comes after Lucapa reported record monthly recovery of 3,164 carats in July as the miner continued to invest in Lulo and focus on the higher-value Mining Block 8. The average selling price in the first half soared to $5,686 per carat, boosted by Angola’s largest diamond that weighed 404 carats and fetched $16 million. Without it, Lucapa’s average selling price would have stood at $2,421 per carat compared with $976 a year ago.
Tags: Angola, colored diamonds, lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Rapaport News, Rough Diamonds, rough sales
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