Bid sale of large Lulo diamond to close on 31

The historic competitive

Diamond bid for Angola

The first diamonds offered for sale

Under the new diamond marketing policy

The significant diamond sector reforms being enacted by the President of Angola, His Excellency Joao Lourenco, to grow investment into the Angolan mining sector, will take another major step forward this month as the inaugural competitive bid sale of large and premium-quality diamonds from the high-quality Lulo diamond mine takes centre stage in the Angolan capital of Luanda.

The sale will mark a significant milestone for the Angolan diamond mining industry, being the first diamonds offered for sale in a competitive process under the new diamond marketing policy enacted by President Lourenco and the Angolan Council of Ministers. The historic Lulo competitive bid sale, which is scheduled to close on 31 January 2019, is being organised in Luanda by SODIAM, the state-owned company responsible for the trading of diamonds in Angola.

The new diamond marketing reforms have generated significant interest from some of the world’s leading diamantaires and large stone manufacturers, who will participate in the inaugural event. Seven exceptional Lulo diamonds, showcasing some of the high-quality production of Angola, will be offered individually, including a 46 carat pink and six top-colour Type IIa white gems ranging from 114 carats to 43 carats.

The diamonds are being offered for sale by Sociedade Mineira Do Lulo (SML), which holds the alluvial mining licence to the prolific Lulo concession in Angola’s diamond-rich Lunda Norte region. SML boasts the world’s highest average US$ per carat alluvial diamond production.

SML is a successful and long-running partnership between ASX-listed Lulo mine operator Lucapa Diamond Company Limited, Angolan diamond mining company, Empresa Nacional de Diamantes E.P. (“Endiama”) and local partner, Rosas & Petalas.