Angolan diamonds have highest price in the world in 2016

9 January 2017

Diamonds mined in the Lulo concession in Angola reached the highest price per carat in the world’s diamond production in 2016, said the CEO of Australia’s Lucapa Diamond Company.

Stephen Wetherall said in a market statement that the Lulo concession’s partners had obtained gross revenue of over US$51 million from the sale of rough diamonds and pointed out that the price per carat of US$2,983 was “the highest in the world in 2016.”

In 2016, the concession produced 269 “special” diamonds each of 10.8 carats or more, compared with 86 a year earlier, with total diamond production reaching 19,833 carats, compared with 8,394 carats in 2015.

In the fourth quarter of 2016 the concession produced 5,313 carats, more than double the 2,151 carats in the same period of 2015, and the number of special diamonds was 79.

The Lucapa Diamond Company’s Angolan partners in this project are state company Empresa Nacional de Diamantes de Angola (Endiama) and private group Rosas & Pétalas.

The Lulo concession is 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)