Lulo sale bags US$3,668 per carat

130 carat Type IIa white and

46 carat pink still at Lulo inventory

Lucapa Diamond Company and its partners announce the results from the latest sale of diamonds from the Lulo alluvial mine in Angola. The run of mine parcels totalling 5,573 carats of Lulo diamonds achieved gross 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 underling Lulo’s status as the world’s highest average price alluvial diamond production.

The sale excluded several high-value diamonds which remain held in inventory by Lulo alluvial mining company Sociedade Mineira Do Lulo. 

These diamonds include the 130 carat Type IIa D-colour diamond and a 46 carat pink. As previously foreshadowed, SML is 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 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.