The second sale of Lulo alluvial diamonds in 2020 brought in a revenue of US$ 1.9 million, Lucapa Diamond Co Ltd announced today. The mine in Angola is jointly owned by Lucapa and its partners Empresa Nacional de Diamantes E.P. and Rosas & Petalas.

The gross sale proceeds for the parcel of 1,223 carats represented an average price of US$ 1,535 per carat, Lucapa noted.

The company has now earned US$ 5.3 million as total sales of Lulo diamonds to date in 2020 at an average price of US$ 1,906 per carat.

The strong prices at the latest sale come shortly after early exploration results to discover the hard-rock sources of the high-value Lulo alluvial diamonds produced highly encouraging diamond finds, Lucapa stated.

In addition to hosting a good white population – including top D-colour stones - analysis of the 45 diamonds recovered from the Canguige tributary confirmed the presence of rare Type IIa gems, along with a light fancy yellow. 

The Canguige tributary that drains into the Cacuilo River valley ~3km upstream of alluvial Mining Block 46, which has produced multiple high-value Type IIa diamonds including Specials of up to 88 carats, along with fancy pink and yellow diamonds, is now a focus area for the company.

Pic caption: Diamonds from the latest Lulo sale parcel

Pic courtesy: Lucapa Diamond Co Ltd