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Large Rough Lifts Lulo to Record Sale

Nov 8, 2016 4:42 AM   By Rapaport News
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RAPAPORT... Lucapa Diamond Company achieved a record $8.3 million (AUD 11 million) from a sale of rough diamonds found at its Lulo mine in Angola.

The company sold a parcel of 1,864 carats at an average price of $4,452 per carat. The total amount was the largest to date for Lulo diamonds, excluding a 404-carat stone that fetched $16 million in February.

The sale pushed up combined proceeds from the mine to $44.8 million this year, with the average price coming in at $3,132 per carat.

Lucapa also said Lulo’s alluvial mining company Sociedade Mineira Do Lulo is likely to schedule an additional diamond sale by the end of the year, meaning two sales are possible before the end of December.
Tags: Angola, lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Rapaport News, Rough Diamonds, Sociedade Mineira Do Lulo
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