Perth-based Lucapa Diamond Company Limited has announced an international competitive process for the sale of diamonds from the Lulo mine in Angola – closing on 31 January 2019.
Lucapa’s Lulo Diamond Project is located approximately 630 kilometres east of the Angolan capital of Luanda and is the highest US$ per carat alluvial diamond production in the world.
The Lulo Diamond Mine has produced 11 +100 carat diamonds in the past, including Angola’s two biggest recorded diamonds which weighed 404 carats and 227 carats.
The sale is set to mark a significant milestone for the Angolan diamond mining industry, as the event marks the first diamonds offered for sale in a competitive process under the new diamond marketing policy enacted by President of Angola H.E João Lourenço and the Angolan Council of Ministers in August 2018.
The new laws aim to double the country’s diamond production by implementing favourable investment and marketing policies designed to increase foreign investment in the diamond sector and grow its financial contribution to the Government.
The new diamond marketing reforms have generated interest from some of the world’s leading diamantaires and large stone manufacturers, who will participate in the inaugural event.
Seven high-quality Lulo diamonds will be on offer, including a 46-carat pink diamond and six top-colour Type IIa white gems ranging from 114 carats to 43 carats.
The diamonds are being offered for sale by Sociedade Mineira Do Lulo (SML), which holds the mining licence to Lulo.
SML is a partnership between Lucapa, Angolan mining company, Empresa Nacional de Diamantes E.P and local partner Rosas and Petalas.
Angola Minister for Mineral Resources and Petroleum, Diamantino Azevedo, said the sale is a unique moment of great importance that marks the turning point in the trading of diamonds in their country.
Lucapa Diamond Chief Executive Officer, Stephen Wetherall, also commented that it is thanks to the positive marketing reforms introduced by President Lourenco and his Government that the competitive event will mark a significant milestone for both the Lulo mine and Angola’s diamond mining sector.
“Lulo diamonds have already established a reputation as being among the highest quality gems in the world. Together with our Angolan partners, Lucapa is delighted that SML will now start showcasing these exceptional diamonds to the strong interest shown by the world’s leading diamantaires,” Mr Wetherall said.
More information on the Lulo Diamond Project can be found here.