Lucapa sells $23m diamond

Perth-based Lucapa Diamond Company has sold a recently recovered 404-carat diamond from its Lulo mine in Angola for $22.5 million.

The alluvial diamond was sold at an average price of $55,585 per carat, a record price for a white diamond recovered from the Lulo mine.

Lucapa chief executive Stephen Wetherall said the sale of a single diamond for $22.5 million underlined the potential for the Lulo diamond field to regularly produce gems that were both large and of quality.

“We look forward to the future with tremendous excitement at Lulo as we continue mining these exceptional alluvial diamond areas, growing our alluvial capability and advancing the kimberlite exploration program to locate the primary source or sources of these gems,” he said.

Lucapa is operator of the Lulo mine with a 40 per cent stake in the alluvial diamond operations.

Endiama holds a 32 per cent interest, while private Angolan partner Rosas & Petalas holds the outstanding 28 per cent stake.

Lucapa shares were 2.3 per cent lower to 41 cents each at the close of trade.