RAPAPORT… Lucapa Diamond Company garnered $4.2 million at its November
tender as the miner continued to hold back higher-value goods for sale later in
the year.
The company sold 3,411 carats of alluvial rough from its
Lulo mine in Angola, fetching an average price of $1,220 per carat.
The sale excluded a parcel of seven large, top-quality
stones from Lulo, including four type IIa white diamonds
weighing 43 carats, 70 carats, 75 carats and 114 carats, and a 46-carat colored
diamond. The company has been withholding these goods for several
months, and will offer them in the fourth quarter when Angola’s
reformed diamond-marketing policy is in effect.
The African country’s new sales policy is likely to add
significant value to Lucapa’s sales of special diamonds, the miner explained
last month.
The miner has sold a combined $24.5 million worth of rough
this year at an average price of $1,353 per carat.
Image: Rough diamonds from the Lulo mine. (Lucapa Diamond Company)
Sales Deferral Hits Lucapa Proceeds
The Bottom Line
- Lucapa sold 3,411 carats of alluvial rough from its Lulo mine for $4.2 million at an average of $1,220 per carat in November.
- The company withheld seven large, high-quality diamonds, including four type IIa white stones and a colored diamond, for sale under Angola’s reformed marketing policy in Q4.
- Lucapa’s total rough diamond sales this year reached $24.5 million at an average price of $1,353 per carat.
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