Home News Lucapa Diamond Company Achieves Success in Angola Tender, Fetching $24.5 Million

Lucapa Diamond Company Achieves Success in Angola Tender, Fetching $24.5 Million

by Madonna

Luanda, Angola – Lucapa Diamond Company, renowned for its diamond mining ventures, recently completed a successful tender in Luanda, Angola, realizing an impressive total of $US15.7 million ($24.5 million) from the sale of seven remarkable diamonds. Among the offerings, two precious gems stood out – a 180-carat Type IIa white diamond, discovered on June 30, 2023, and a 66-carat pink diamond, both commanding the highest prices per stone.

All of these remarkable diamonds were painstakingly unearthed from the prolific Lulo Alluvial diamond mine located in Angola. The auction event serves as a testament to the resilience and enduring demand for large, high-quality diamonds despite the current challenges faced by the broader diamond market.


Lucapa’s Chief Executive Officer (CEO) and Managing Director, Nick Selby, commented on the success of the tender, highlighting that while smaller diamonds for mainstream jewelry may be experiencing some weakness, the larger, high-quality stones continue to thrive, commanding robust demand and prices. The demonstration of this demand was evident in the remarkable average price per carat achieved, standing at $US29,401.00.


Among the other noteworthy diamonds featured in the tender were a 10-carat pink diamond and two white diamonds weighing 96 carats and 77 carats, alongside two 51-carat white diamonds.


This tender marked Nick Selby’s inaugural tenure as CEO, having assumed the role just one week before. Selby expressed his delight at taking on this new position, particularly as Lucapa’s mining operations have been bolstered, leading to increased production and operational efficiencies across its assets in both Africa and Australia.

Looking forward, Lucapa Diamond Company has ambitious plans to further its quest for primary sources of high-quality diamonds within its Lulo Alluvial diamond mine in Angola. These endeavors reflect the company’s commitment to continuous exploration and growth in the diamond industry.


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