Four diamonds fetch US$17m at tender

Dec 12, 2023

Lucapa Diamond Company announce four exceptional diamonds recovered from the Lulo Mine attracted US$17.063 million (A$26 million) at tender. The tender was conducted by Sodiam E.P in Luanda, Angola and the Lulo parcel of 609 carats consisted of 4 Type IIa diamonds weighing 41 carats, 123 carats, 208 carats and 235 carats respectively.

Lucapa CEO and Managing Director Nick Selby commented, “The outcome of this tender is very encouraging as it once again clearly indicates the strength of the market for these exceptional, rare and high value stones of which Lulo is a consistent producer. This is a positive result for Lucapa in a year when the diamond industry generally suffered weakness in pricing.

With India about to resume rough diamond imports and Russian diamonds potentially having a restricted flow into the market in 2024, we are optimistic that we will see improvement and stability in diamond prices across all sectors of the market in the New Year.”

You May Also Like