Angola Special-Stone Tender Brings In $22M 

Trans Atlantic Gem Sales (TAGS) and Angola’s Sodiam garnered $21.6 million at their second joint tender of special rough diamonds from five of the African country’s mines. 

The tender saw a 100% sell-through rate, despite current market weakness, TAGS said last week. The companies offered 33 lots comprising 46 diamonds.       

“The results once again exceeded expectations, with mines expressing enthusiasm to increase rough-diamond volumes to be sold through tenders in the future,” TAGS director Anthony Peter noted. “Based on these outstanding results, we anticipate…a growing number of participating mines as the year progresses.”               

The sale included six diamonds from Lucapa Diamond Company’s Lulo mine in Angola that weighed a total of 447 carats. They achieved $12.4 million, at a total average price of $27,700 per carat. The parcel included five white, type IIa diamonds weighing 195, 89, 68, 51 and 28 carats, as well as a 14-carat pink. 

“A very pleasing tender result, our second this year,” said Lucapa managing director Nick Selby. “Our alluvial project continues to deliver fantastic diamonds that are always in demand through all market cycles and achieve very competitive values.”

Image: The six Lulo diamonds. (Lucapa Diamond Company)