Three Lucapa Diamonds Rake In $10.5M at TAGS Tender 

Three large, high-quality diamonds from Lucapa Diamond Company were the star performers at a recent tender in Angola, with prices for total goods on offer surpassing their reserve by 17%. 

The sale, held by Trans Atlantic Gem Sales (TAGS) and Angola’s national diamond-trading company, Sodiam, included 20 diamonds, with all items on offer finding buyers, TAGS said last week. A total of 38 international companies participated in the April 11 to 19 tender, which featured 636.2 carats of rough valued at $16.9 million. 

Lucapa sold three rough diamonds weighing 203, 116 and 42 carats at the tender. Those stones, recovered in the first quarter from the company’s Lulo mine in Angola, brought in $10.5 million, Lucapa noted. 

“This is the first tender of Lulo diamonds for 2024 and we are pleased to see that the outstanding quality of these type IIa diamonds has been recognized by the diamantaires who competitively bid for the stones,” said Lucapa managing director Nick Selby. “An average price per carat of $29,000 for the parcel is further proof that the high-end sector of the diamond market continues to be buoyant.” 

Image: The three Lucapa rough diamonds (Lucapa Diamond Company)