Diamonds mined in Angola sell at high prices July 12th, 2016 The...

Diamonds mined in Angola sell at high prices
July 12th, 2016

The price per carat of diamonds sold by the Lucapa Diamond Company increased by 483% between the first quarter of 2015 and the same period of 2016 rising from US$976 to US$5,686, the Australian company said in a statement.

The report for the second quarter shows the company sold 4,601 carats of diamonds mined in Angola and invoiced US$26.16 million against 2,989 carats sold in the same period of 2015 and a cash inflow of US$2.9 million.

These sales, like the previous ones, were made in Luanda by diamond trading company Sodiam, a subsidiary of state diamond company Endiama.

The company also said that, with the exception of a 404 carat stone, the largest diamond ever found in Angola and the 27th in the world, the price per carat rose to US$2,421.

The Lucapa Diamond Company’s partners in the Lulo diamond concession are Endiama and private group Rosas & Petalas.

The concession area is 150 kilometres from the Catoca diamond mine, which has the largest kimberlite in Angola and the fourth largest in the world, with both located in the same geological area. (macauhub/AO)

http://www.macauhub.com.mo/en/2016/07/12/diamonds-mined-in-angola-sell-at-high-prices/