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Lucapa Unveils 15ct. Polished Pink Diamond

Graff subsidiary Safdico cut heart-shaped stone from 46-carat rough.
Dec 3, 2020 5:35 AM   By Rapaport News
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Lucapa Diamond Company has released the polished results of a 46-carat pink rough it sold into a manufacturing partnership with Graff subsidiary Safdico. 

A heart-shaped, 15.2-carat, fancy-intense-orangey-pink, VVS1-clarity diamond is one of three stones Safdico cut from the largest gem-quality, colored diamond ever recovered from Lucapa’s Lulo operation in Angola, the miner said Thursday. The cutting-and-polishing unit also produced two pear-shaped diamonds weighing 3.3 and 2.3 carats. Under the terms of the partnership, Lucapa will get a percentage of the polished sale price.

“The recent enactment of the Angolan diamond-marketing regulations is having the desired effect,” said Lucapa CEO Stephen Wetherall. “New permitted diamond-marketing channels, such as this partnership initiative…,are starting to show the real and significant additional benefit that can be derived from the diamonds produced at Lulo.”

Pink diamonds are rare, and the recent closure of Rio Tinto’s Argyle mine, which produced 90% of the world’s natural pink diamonds, will make them even scarcer, noted 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.”

Safdico will sell the heart-shaped diamond, but the manner of sale has yet to be determined, Wetherall told Rapaport News.

“[Safdico] are at work putting the diamond where it needs to be,” he noted. “These diamonds need to be socialized in a specific manner to their potential owners. I’m sure [Safdico] knows the identity of the likely owners, but promoting the stone wider will likely add to the provenance and allure of the diamond.”

Wetherall has also not ruled out the possibility of selling the stone at auction.

“It could potentially end up at a branded auction house in due course, as that channel has worked quite well for other expensive unique stones…. We have seen pinks fetch some stellar prices in the market of late,” he added.

Images: The heart-shaped, 15.2-carat diamond (top); the 46-carat rough (right). (Lucapa Diamond Company)
Tags: Argyle mine, Graff, lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Polished Pink Diamond, Rapaport News, Rio Tinto, Safdico, Stephen Wetherall
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