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06 May 2024

Angola Secures $10.5M for Trio of Diamonds from Lulo Mine

Angola Secures $10.5M for Trio of Diamonds from Lulo Mine
Australian mining company Lucapa has sold a trio of diamonds for a total of $10.5 million from the Lulo alluvial mine in Lunda Norte, Angola. The sale – measuring a total of 361 carats – was facilitated by Angola’s state-owned diamond trading company Sodiam, fetching an average price of $29,000 per carat.

The three diamonds measured 203 carats, 116 carats and 42 carats, respectively, with the largest of the three representing the fifth biggest to ever be recovered from the mine. Identified as Type IIa stones, the diamonds represented Lucapa’s first Lulo Mine tender in 2024.

The sale follows a string of high-quality stones found at the mine in recent months, including a 203-carat diamond recovered in March 2024 and a 235-carat diamond recovered in November 2023 – the second-ever discovered at the mine. In total, more than 40 diamonds weighing over 100 carats and four weighing over 200 carats have been found at the mine.

Operator of the mine, Lucapa holds a 40% interest while the country’s state-owned diamond corporation Endiama and private company Rosas & Petalas hold the remaining shares. 

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