Lucapa Diamond Co Sells Stones Worth US$10.5 Million

Lucapa Diamond Co Ltd (ASX: LOM) has sold three high-value diamonds from the Lulo Mine in Angola for US$10.5 million at a tender.

The parcel of 361 carats consisted of three Type IIa diamonds weighing 42 carats, 116 carats and 203 carats.

The tender, which concluded on Friday 19 April 2024, was conducted by Sodiam E.P in Luanda, Angola.

High-end sector remains buoyant

Lucapa CEO and Managing Director Nick Selby said: “This is the first tender of Lulo diamonds for 2024 and we are pleased to see that the outstanding quality of these Type IIa diamonds has been recognised by the diamantaires who competitively bid for the stones.”

Selby noted that the average price per carat of US$29,000 for the parcel is further proof that the high-end sector of the diamond market continues to be buoyant.

African and Australian assets

Lucapa is a diamond miner and explorer with assets in Africa and Australia.

The company has interests in two producing diamond mines in Angola (Lulo, in which LOM holds 40%) and Lesotho (Mothae, in which LOM holds 70%).

The large, high-value diamonds produced from these two niche African diamond mines attract some of the highest prices/ carat globally.

The Lulo mine has been in commercial production since 2015, while the Mothae mine started commercial production in 2019.

In 2021, Lucapa completed the transformative acquisition of the Merlin Diamond Project, a historical mine in the Northern Territory.




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