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
