Largest diamond found in Angola sold for US$16 million

1 March 2016

The largest diamond ever found in Angola and the 27th globally with 404 carats was sold for 22.5 million Australian dollars (US$16 million), the Lucapa Diamond Company, based in Perth, said Monday.

In a statement, the company said the sale price achieved was “a spectacular per carat price of 55,585 Australian dollars (US$39,580 US dollars), which is a record value achieved with the sale of a white diamond mined in the Lulo concession.”

The chief executive of the Lucapa Diamond Company, Miles Kennedy, said in February that the cash raised from the sale of this diamond would be used to expand operations in Angola, particularly in the Lulo concession.

The Lucapa Diamond Company (40percent) has as its Angolan partners in this project state company Empresa Nacional de Angola Diamonds (Endiama), with 32 percent and the private group Rosas & Pétalas, with the remaining 28 percent.

The Lulo concession lies 150 kilometres from the Catoca diamond mine, which has the largest kimberlite in Angola and the fourth largest in the world, and both are located in the same geological area. (macauhub/AO)