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Lucapa Sells $6.2M of Rough Stones

Miner held back two high-quality diamonds from tender for cutting and polishing.
Aug 8, 2019 9:35 AM   By Rapaport News
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RAPAPORT... Lucapa Diamond Company garnered $6.2 million at a tender of rough stones from its Lulo and Mothae mines, bringing the total to $35.5 million for the year to date.

The miner sold 3,558 carats from its Lulo mine in Angola, bringing in $4.4 million at an average price of $1,234 per carat, it reported Thursday. The company also sold 4,376 carats from the Mothae mine in Lesotho for a total of $1.8 million, equating to an average price of $400 per carat. 

Lucapa held back a 46-carat pink diamond from Lulo, as well as a 36-carat, D-color stone from Mothae, both of which it plans to cut and polish in-house to maximize profits, it noted.

So far this year, total sales of Lulo rough have come to $26.5 million, while rough from Mothae has fetched $9 million.

Lucapa will hold its next diamond tender at the end of the third quarter.

Image: Lulo diamonds from the sale. (Lucapa Diamond Company)
Tags: lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Mothae, Mothae Mine, Rapaport News
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