Lucapa banks $US5.6m in Lulo diamond sales

A 51 carat D-colour type IIa stone. Image: Lucapa Diamond Company

Lucapa Diamond Company has scored $US5.6 million ($7.9 million) in sales from its latest offering of diamonds from the Lulo mine in Angola, Africa.

The sale takes Lucapa’s total sales to $US21.3 million for the year.

During the sale, the company sold 3862 carats of diamonds, representing an average price of $US1540 per carat.

A 51 carat D-colour type IIa stone was also included in the sale parcel.

“As foreshadowed, the strong operational performance and record diamond recoveries at Lulo in July and August, together with a recovering diamond demand positively impacting prices, should bode well for Lulo in (the second half of this year),” Lucapa managing director Stephen Wetherall said.

Lucapa also delivered record monthly carats recovered from Lulo earlier this month, amounting to 3852 carats that included 52 specials.

The company has sold 16,128 carats for the year to date and produced 15 100-plus carat diamonds at the Lulo mine, making it one of the highest average $US per carat alluvial diamond producers in the world.

Lucapa generates more than 75 per cent of its revenues from the recovery of 4.8-plus carat stones.

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