Lulo Rough Fetches $10M at Tender

RAPAPORT... Lucapa Diamond Company garnered $10 million at its secondrough sale of 2019, achieving an average price of $1,800 per carat. The miner sold 5,573 carats at the tender, it said Monday.The diamonds are from the company's Lulo alluvial mine in Angola. Tender sales came to $22.1 million for thefirst half of 2019, at an average of $3,668 per carat. The miner held back some special stones, which it will keepin its inventory, including a 130-carat, D-color, type IIa stone it found lastmonth, and a 46-carat pink diamond it recovered a year ago. Other than Lulo, Lucapa owns a 70% stake in the Mothae minein Lesotho, with the government holding the remaining 30%. Additionally, theminer is carrying out exploration at the Brooking lamproite project in WesternAustralia and at its Orapa site in Botswana. Those two projects are temporarilyon hold while the company focuses on increasing production from Lulo andMothae. Image: Diamonds from the Lulo tender. (Lucapa Diamond Company)