Lulo Diamonds Generates $16.7 Million In Historic Tender of Large Stones from Angola

The first competitive tender of Lulo diamonds under the terms of Angola’s new diamond marketing policy resulted in an exceptional average price per carat of US$33,530, the Lucapa Diamond Company Limited and Sodiam – Angola's state diamond marketing company – announced.

The sale of exceptional diamonds was the first under Angola’s new diamond marketing policy.

The seven large, top-quality diamonds weighing 498 carats from the Lulo alluvial mine were offered for sale via electronic tender organized by Sodiam in Luanda, achieving a total sales price of US$16.7 million, representing an average price of $33,530 per carat.

"The exceptional sale prices achieved for the Lulo diamonds reflected the highly-competitive bidding from leading international diamantaires and large stone manufacturers from eight countries that participated in the tender," Lucapa said in a statement. "The sale marked the beginning of a new era for the Angolan diamond mining industry, being the first Angolan production offered for sale via competitive tender under the new diamond marketing policy enacted by the Angolan President Joao Lourenco.

The sale brought total sales of Lulo diamonds to date to US$141 million at an average price per carat of US$2,105.

Pictured: the seven Lulo diamonds in the historic Angolan tender.