Trans Atlantic Gem Sales (TAGS) and Angola’s Sodiam mining company sold more than $15.5 million worth of large rough diamonds at their recent tender in Luanda.
The sale featured 17 diamonds over 10.8 carats, weighing a total of 922.49 carats, TAGS said last week. Of those, 15 stones totaling 865.19 carats found buyers at the June 23 to 26 sale. The rough originated from four of Angola’s leading mines, the company said. TAGS sells production from seven deposits in the country: Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca and Luele.
It’s unclear whether any of the rough at in the sale came from Lucapa Diamond Company’s Lulo site. Although Lucapa generally sells its rough through TAGS tenders, the miner entered voluntary administration in May and is currently preparing for the possible sale of its business, which also includes the Merlin project and the Brooking exploration project, both in Australia.
TAGS invited 30 of its top-performing specialist clients from around the world to participate in the sale. The result surpassed the expectations of participating producers, the company reported.
“This outcome reflects the continued strength of demand for large, high-value natural diamonds,” TAGS added.
Image: Rough diamonds. (TAGS)
