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Diamond Trade Remains Cautious Amid Economic UncertaintySourcingApr 23, 2024
Lucapa Sells 3 Diamonds for $10.5M in First Lulo Tender of 2024
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
In the first tender of the year of Lulo diamonds, three diamonds totaling 361 carats sold for $10.5 million. The Type IIa diamonds weigh, from left to right, 203 carats, 116 carats, and 42 carats.
Subiaco, Western Australia—Three diamonds from the Lulo alluvial mine in Angola garnered $10.5 million at tender, mining company Lucapa announced Monday.
The Type IIa diamonds weighed 203 carats, 116 carats and 42 carats.
The parcel averaged a $29,000 per carat price, which Lucapa CEO and managing director Nick Selby called “further proof that the high-end sector of the diamond market continues to be buoyant.”
The 203-carat diamond achieved the highest price out of the parcel.
The companies that operate the mine— Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas and state-owned Endiama E.P.—announced the diamonds were recovered from the mine in the first quarter.
Sodiam E.P., Angola’s state-owned diamond trading company, conducted the tender, which ended April 19.
“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 recognized by the diamantaires who competitively bid for the stones,” Selby said.
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The Type IIa diamonds weighed 203 carats, 116 carats and 42 carats.
The parcel averaged a $29,000 per carat price, which Lucapa CEO and managing director Nick Selby called “further proof that the high-end sector of the diamond market continues to be buoyant.”
The 203-carat diamond achieved the highest price out of the parcel.
The companies that operate the mine— Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas and state-owned Endiama E.P.—announced the diamonds were recovered from the mine in the first quarter.
Sodiam E.P., Angola’s state-owned diamond trading company, conducted the tender, which ended April 19.
“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 recognized by the diamantaires who competitively bid for the stones,” Selby said.
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