Lucapa sells more than 4000ct of diamonds

Lucapa Diamond Company, with its project partners, has completed the first sale of alluvial diamonds of 2018 from the Lulo operation in Angola, offloading more than $US9 million worth of gems.

The sale of 4170 carats (ct) of diamonds from Lulo achieved gross proceeds of $US9.14 million ($11.43 million), representing an average price per carat of $US2192.

“The latest sales takes total sales of Lulo diamonds, from exploration to mining, to $US106.81 million at $US2118/ct,” Lucapa reported in an ASX announcement.

With the latest sale completed, Lucapa added the next cash distribution to its partners and loan repayment to the company would be considered as soon as Lulo’s 2017 accounts are finalised.

Lucapa’s partners at Lulo are Empresa Nacional de Diamantes E.P. and Rosas & Petalas.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.