An inaugural competitive tender of Lulo diamonds in Angola under the country's new diamond marketing policy delivered an exceptional average price of US$33,530 per carat.

Lucapa Diamond Company, Empresa Nacional de Diamantes E.P. , Rosas & Petalas, the Ministry of Petroleum and Natural Resources and Sodiam have announced the outcome of the first historic sale of exceptional diamonds under Angola’s new diamond marketing policy.

The top-quality diamonds weighing 498 carats from the Lulo alluvial mine that were offered for sale via electronic tender organised by Sodiam in Luanda.

They achieved a total sales price of $16.7 million, representing an average price of $33,530 per carat.

The sale prices achieved for the Lulo diamonds reflected the highly-competitive bidding from leading international diamantaires and large stone manufacturers from eight countries that participated in the tender.

The sale marked the beginning of a new era for the Angolan diamond mining industry.

It was the first production from Angola offered for sale via competitive tender under the new diamond marketing policy enacted by the Angolan President Joao Lourenco.

The sale brought total sales of Lulo diamonds from Angola to date to $141 million at an average price per carat of $2,105.

Lucapa is a growing diamond company with a portfolio of high-quality production, development and exploration assets in Angola, Lesotho, Australia and Botswana. The Company’s focus on high-value diamond production is designed to protect cash flows in a sector of the diamond market where demand remains robust.