Lucapa Diamond Company Limited reported that at its latest sale of 5,573 carats of run-of-the-mine diamonds recovered from the Lulo alluvial mine in Angola, it took in revenues of US$ 10.0 million (A$ 14.5 million), representing an average price of US$ 1,800 per carat.

“This took total sales of Lulo diamonds to date in H1 2019 to US$ 22.1 million achieving an average price per carat of US$ 3,668, further underlining Lulo’s status as the world’s highest average price alluvial diamond production,” the Company stated.

Lucapa said that the latest sale excluded several high-value diamonds which remain held in inventory by Lulo alluvial mining company Sociedade Mineira Do Lulo (SML) of which Lucapa is 40% stakeholder and operator. These include the 130 carat Type IIa D-colour diamond and a 46 carat pink.

SML is currently undertaking a self-funded expansion of its Lulo diamond mining operations to deliver a ~50% increase in annualised plant throughput to approximately 450,000 bulk cubic metres by 2020, the Company reiterated, echoing an earlier statement.

“The latest Lulo diamond sale closely follows the US$ 3.5 million sale of diamonds from Lucapa’s second high-value mine, the Mothae kimberlite mine in Lesotho,” the Company noted.  

Pic Cap: Run of mine Lulo diamonds included in the latest US$ 10.0 million sale
Pic Courtesy: Lucapa Diamond Company Limited