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Lucapa fetches US$9.1M from 1st Lulo diamond sale of FY'18

Lucapa Diamond Co. Ltd. said Feb. 2 that it raised about US$9.1 million from the first sale this year of alluvial diamonds from the Lulo project in Angola.

The company sold 4,170 carats representing an average price per carat of US$2,192. Total diamond sales from Lulo now amount to about US$106.8 million, at US$2,118 per carat.

In January, Lucapa announced the discovery of large diamonds from Lulo, including a 116-carat low-quality diamond and a 43-carat yellow gem, the largest colored gem-quality diamond recovered from the mine to date.

Empresa Nacional de Diamantes EP owns a 32% stake and Rosas & Petalas owns a 28% interest in the Lulo project, while Lucapa owns a 40% stake.