Sale of diamonds mined at Lulo concession, Angola, exceeds US$76 million

7 March 2017

Accumulated sales of diamonds mined at the Lulo concession, in Angola’s Lunda Norte province, are in excess of 100 million Australian dollars (about US$76 million), said the Lucapa Diamond Company in a market statement.

Sales recorded since the beginning of 2017 are up to 14 million Australian dollars (about US$10.7 million), said the Australian company, whose partners in Sociedade Mineira do Lulo are Angolan diamond company Endiama (32%) and private company Rosas & Pétalas (28%).

Announcing the second “successful” sale this year of alluvial diamonds mined in that concession, the Lucapa Diamond Company said it obtained gross income of 9.1 million Australian dollars (US$6.9 million).

The company said the revenue earned was an average price per carat of 5,836 Australian dollars (US$4,446), which emphasizes the quality of the diamonds mined in the concession as well as the consistent demand for large, quality gems,” the document said.

The latest sale included a 227-carat diamond discovered on 17 February in a new area of the Lulo concession, and was carried out by Angolan state diamond trading company Sodiam. (macauhub)