Lucapa sells massive diamond for $22.5 million

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Australian miner Lucapa Diamond has sold its enormous 404 carat stone.

The Type IIa D-colour gem was found at its Mining Block 8 alluvial project at the Lulo mine, and is more than double the weight of the previously largest stone which weighed 133.4 carats.

According to the miner, this is the largest recorded diamond ever found in Angola and the largest ever discovered by an Australian company.

It went on to add that is ranks as the 27thlargest single diamond ever found.

Lucapa has now sold the stone for $22.5 million, or approximately $55,585 per carat, an indicator of the positive market sentiment for diamonds.

Stephen Wetherall, Lucapa’s CEO, said it was delighted to achieve the sale price.

“The sale of a single diamond for US$16 million underlines the huge potential of the Lulo diamond field to regularly produce gems which are both large and of world-class quality,” Wetherall said.