Lucapa Diamond Company Ltd (ASX:LOM) and its partners, Empresa Nacional de Diamantes E.P. and Rosas & Petalas, have completed the seventh sale for 2017 of alluvial diamonds from the Lulo Diamond Project in Angola.
The sale of 3,214 carats of Lulo diamonds achieved gross proceeds of US$7.4 million (A$9.2 million), representing an average price per carat of US$2,298 (A$2,863).
The Lulo Diamond Mine produces large, premium-value diamonds.
Lulo is a 3000 square kilometre concession in the diamond heartland of the country, which is the world's fifth largest diamonds producing nation.
Adding further potential to the project, it is located within 150 kilometres of Catoca - the world’s fourth biggest kimberlite mine.
Lulo produced the highest $ per carat price of any run of mine diamond production in the world in 2016 and continues to produce some of the largest diamonds on record from that region.
Proceeds for 2017
The latest sale brought gross proceeds from Lulo diamond sales to date in 2017 to US$24.3 million at an average price per carat of US$1,640.
The diamonds from the latest sale price were predominantly recovered from the high-value Mining Block 8 area at Lulo, where mining operations continue.