lucapa diamonds

Lucapa and partners sell Lulo diamonds for A$7.7 million

Lucapa Diamond Company Limited (ASX: LOM), and partners Empresa Nacional de Diamantes E.P. and Rosas & Petalas have announced the sale of a rough diamond parcel of 4,273 carats by Sociedade Mineria Do Lulo from its Lulo alluvial mine in Angola for a total of A$7.7 million.

Lucapa is a niche diamond producer with high-value mines in Angola (Lulo) and Lesotho (Mothae).

Lulo alluvial mine

LThe Lulo alluvial mine typically produces large and high-value diamonds, with >75% of revenues generated from the recovery of +4.8 carat stones.

ulo has produced 18 diamonds of more than 100 carats to date and is one of the highest average US$ per carat alluvial diamond producers in the world.

Lucapa and its Project Lulo partners have also received highly encouraging results from their search to discover the primary hard-rock source of the high-value Lulo alluvial diamonds.

First diamond sale of 2021

Lucapa said that the results of the first diamond sale of 2021 by Sociedade Mineria Do Lulo from its Lulo alluvial mine in Angola have been very encouraging.

The company said that the rough diamond parcel of 4,273 carats was sold for a total of US$5.9 million (A$7.7 million) or US$1,375 (A$1,793) per carat.

Management comments

Lucapa Managing Director, Stephen Wetherall said: “As with the first sale of Mothae diamonds in 2021, prices achieved by SML at this sale continued to reflect the positive industry mood, and with sales from both operations in 2021 already totalling A$15m, it has been a solid start to the year.”

* Image courtesy of Lucapa Diamond Company Limited

Written By Jonathan Norris
Jonathan is a founder of and has been covering the resources industry since 2018. With over 17 years experience in print, broadcast and online media, Jonathan has seen first hand the transformative effect of online niche media.