SourcingJul 25, 2024
De Beers’ H1 Revenue Falls 21% in ‘Weak’ MarketSourcingJul 31, 2024
Lucapa Sells 6 Diamonds, Including 14-Carat Pink
The parcel, totaling 447 carats, garnered $12.4 million at the diamond miner’s recent tender.
Lucapa sold a 14-carat pink diamond (pictured lower left) and five white diamonds from the Lulo alluvial mine in Angola in its second tender of the year.
Subiaco, Western Australia—Six diamonds from the Lulo alluvial mine in Angola garnered $12.4 million in Lucapa’s second tender of the year, the mining company announced late last week.
The six diamonds totaled 447 carats.
The group consisted of a 14-carat pink diamond, as well as five white Type IIa diamonds weighing 195 carats, 89 carats, 68 carats, 51 carats, and 28 carats.
The average price per carat was $27,700, with the pink diamond attracting the highest price per carat.
The Lulo mine is operated by Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas, and Angola state-owned diamond company Endiama E.P.
Sodiam E.P., the state-owned diamond trading company, conducted the tender.
“A very pleasing tender result, our second this year,” Lucapa CEO and managing director Nick Selby said.
“Our alluvial project continues to deliver fantastic diamonds that are always in demand through all market cycles and achieve very competitive values.”
Related stories will be right here …
The six diamonds totaled 447 carats.
The group consisted of a 14-carat pink diamond, as well as five white Type IIa diamonds weighing 195 carats, 89 carats, 68 carats, 51 carats, and 28 carats.
The average price per carat was $27,700, with the pink diamond attracting the highest price per carat.
The Lulo mine is operated by Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas, and Angola state-owned diamond company Endiama E.P.
Sodiam E.P., the state-owned diamond trading company, conducted the tender.
“A very pleasing tender result, our second this year,” Lucapa CEO and managing director Nick Selby said.
“Our alluvial project continues to deliver fantastic diamonds that are always in demand through all market cycles and achieve very competitive values.”
Lucapa announced this week it also has recovered a 176-carat Type IIa Lulo mine.
It is the fifth diamond weighing more than 100 carats to be recovered this year and the eighth largest diamond to come out of the mine since commercial production began in 2015, the company said.
A 176-carat diamond recovered from the Lulo mine
It is the 45th diamond weighing more than 100 carats that Lucapa has mined at Lulo.
The continual recovery of large diamonds such as these has been a key source of income for Lulo, said Lucapa, and it has also informed the miner’s kimberlite exploration program.
Through the program, Lucapa is currently bulk sampling kimberlites near where the 176-carat diamond was found.
“The recovery of this 176-carat diamond is yet more confirmation of the massive potential of the kimberlite province where we are focusing our exploration efforts to find the source(s) of these magnificent gems,” said Selby.
He added, “the diamond has not traveled far as it still displays sharp, angular edges.”
Lucapa and its project partners also are exploring for potential primary source kimberlites or lamproites at the Lulo concession and the Brooking project in Australia.
Earlier this month, the miner gave an update on exploration at Lulo following a “severe” wet season in Angola.
It said it is focused on sampling kimberlites near the Cacuilo River; these are considered more likely to be the major sources of the diamonds found in the Cacuilo’s alluvial deposits.
Lucapa also has begun construction on the road to access the “high-priority” L014 kimberlite, which sits beneath the river.
“Now that the wet season is behind us this year, we are excited to be back in full flow with the exploration program and gaining access to the areas that were previously inaccessible due to the wet ground conditions,” Selby said.
“The preparation work is well underway for accessing kimberlite L014, from which we will be doing the necessary delineation drilling and taking bulk samples. Road construction and sample planning is progressing for the other priority targets close to the Cacuilo River. We look forward to bringing further updates to the market, as the sampling results become available.”
Editors' Picks
Sponsored by
More on Sourcing
The Latest
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry StoreAuthorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ RingThe ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ OutlookThe Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They DeserveBench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.
Weekly QuizMar 27, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand AmbassadorThe Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.
IndependentsMar 26, 2025
Bailey’s Fine Jewelry Acquires Fellow NC Independent JewelerThe family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco WatchesThe “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.
MajorsMar 26, 2025
QVC Group Appoints New PresidentAlex Wellen, formerly CEO and president of MotorTrend Group, has taken on the role.
Events & AwardsMar 26, 2025
Jewelers of America Announces New Funding Initiative The Impact Initiative is part of the nonprofit association’s new three-year strategic plan.
AuctionsMar 25, 2025
Christie’s To Auction 35-Carat Sapphire, 13-Carat RubyThe ruby and the sapphire, which Christie’s calls a “once-in-a-generation masterpiece,” are part of the upcoming Hong Kong jewelry auction.
CrimeMar 25, 2025
Tiffany & Co. Earrings Swallowed Following Grab-and-Run Theft RecoveredThe two pairs of earrings, snatched from a Tiffany & Co. store in Orlando, Florida, are valued at a combined $769,500.
ColumnistsMar 25, 2025
The Smart Lab: Using Short-Form Videos to Sell More JewelryThe time to start experimenting with video content is now, writes columnist Emmanuel Raheb.
CollectionsMar 24, 2025
Pomellato’s Latest ‘Nudo’ Collections Revamp its Classic DesignFrom striking high jewelry to miniature fine jewelry, the new chapter continues to highlight gemstones featuring its signature 57-facet cut.
MajorsMar 24, 2025
4 Top Executives to Depart Signet Jewelers Amid TurnaroundThe jewelry giant is reducing its senior leadership by 30 percent as part of its new turnaround strategy.
WatchesMar 24, 2025
Sotheby's Now Offers Watch Repair ServicesThe auction house's partnership with online watch servicing platform WatchCheck makes repairs convenient and accessible, it said.
FinancialsMar 21, 2025
Swarovski Says Its Lab-Grown Diamond Sales Doubled in 2024The company also noted record sales in the United States and a strong performance in its jewelry category.
SourcingMar 21, 2025
BrankoGems To Hold Conference in MontanaThe event, set for June 13-15, will feature educational presentations and guided visits to the state’s sapphire mines.
TrendsMar 21, 2025
Piece of the Week: Marrow Fine’s ‘Til Death’ RingAfter the black enamel band became a best-seller for the brand, it has now launched an enamel ring personalization program.
IndependentsMar 20, 2025
Korman Fine Jewelry’s New Store Is Double the Size The Austin, Texas, jeweler’s new 11,000-square-foot store is set to open this summer.
Events & AwardsMar 20, 2025
JCK Rocks to Feature Snoop Dogg, Jason DeruloThe rapper and singer-songwriter will perform at Tao Beach on June 8.
TechnologyMar 20, 2025
Chris Ploof, Severine Ferrari Launch YouTube Video Series“Conversations with Chris Ploof” covers tips for men buying wedding bands, behind-the-scenes footage of Ploof in his studio, and more.
Lab-GrownMar 20, 2025
Beyond Jewelry: Possibilities in the Lab-Grown Diamond SectorAs lab-grown diamond brands pop up across India, academics are researching how to grow demand outside of the jewelry industry.
FinancialsMar 19, 2025
Signet Jewelers to Close Stores, Cut Staff Amid Declining SalesThe moves are part of the retailer’s new turnaround plan, “Grow Brand Love,” which also includes emphasizing brand loyalty over store banners.
CollectionsMar 19, 2025
Jessica McCormack’s New Collection Elevates Office WearThe “Rush Hour” campaign stars Zoë Kravitz in bold, wearable pieces designed to make a statement in the workplace.
WatchesMar 19, 2025
Breitling Acquires Another Watch Brand From the 1800sBreitling is reviving Gallet, which was founded in 1826 and is known for making watches used in the early days of long-distance travel.
