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Lucapa realises $35.5 mln from sale of Lulo, Mothae diamonds

08 august 2019

news_02072018_lucapa.pngLucapa Diamond has raked in $35.5 million from the latest sale of diamonds from its Lulo and Mothae mines, in Angola and Lesotho respectively.
It said in a statement that the run of mine parcel of 3,558 carats of Lulo diamonds was sold for gross proceeds of $4.4 million, representing an average price per carat of $1,234. 
This took total sales of Lulo diamonds to date in 2019 to $26.5 million at an average price per carat of $2,764.
Lucapa said the latest sale did not include the high-value 46 carat Lulo pink diamond, which is being considered for cutting and polishing by the Lulo partners to capture margins from beyond the mine gate. 
A parcel of 4,376 carats of Mothae diamonds was sold for gross proceeds of $1.8 million, representing an average price per carat of $400 for the run of mine production and $475 per carat for diamonds in the +11 sieve size fraction.
The sale result was impacted by the decision to withhold from sale the highest-valued Mothae diamond in the tender – a 36 carat D-colour stone. 
This diamond, it said, is also being considered for cutting and polishing to capture margins from beyond the mine gate. 
The latest sale took total Mothae sales to date in 2019 to $9 million at an average price per carat of $539 and $661 for the +11 sieve size fraction.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished