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Lucapa’s Lulo 46ct pink coloured diamond delivers three polished stones

04 december 2020
Image credit: Lucapa Diamond

Lucapa Diamond says a 46-carat pink coloured rough diamond recovered at its 40%-owned Lulo diamond project in Angola and later sold into a cutting and polishing partnership with Safdico, has delivered three polished diamonds – a 15.2 carat Heart and two Pear shaped diamonds weighing 3.3 carats and 2.3 carats.
The 15.2 carat Heart shaped diamond was graded by the Gemological Institute of America as Fancy Intense Orangy Pink, with a clarity grade of VVS1 and excellent gradings for both polish and symmetry.
Lucapa and its Lulo partners will retain a share in the margin to be generated from the sale of the resultant polished diamonds under the partnership with Safdico.
The 46-carat pink coloured diamond is the largest gem-quality coloured rough diamond recovered to date from Lulo mining operations.
“Pink coloured diamonds are rare and constitute less than 0.1% of global diamond production. With the recent closure of the renowned Argyle underground mine in Australia, which produced about 90% of the world’s natural pink diamonds, these diamonds are about to become even more scarce,” said Lucapa chief executive Stephen Wetherall. “This bodes well for the sale of the 15.2-carat polished pink diamond and other diamonds derived from this unique value accretive polishing partnership.” 
The transformational marketing regulations enacted in Angola in 2019 allowed Lucapa and its partners to sell diamonds into other value accretive channels and partnerships to attract additional value over and above the normal rough price achieved at the mine gate.

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