Tuesday, 15 March 2016

404.2 Carat ‘Virtually Flawless’ White Diamond Sold For More Than $22 Million

lulo diamond project

A 404.2 carat white diamond that was unearthed by Australian-based Lucapa Diamond at Lulo mine in Angola last month, has been sold for $22.5 million.

According to CNN Money, New York-based diamond retailer Yehuda tested the new diamond’s color and clarity and categorized it as a Type IIa stone — meaning it’s virtually flawless. Hence its price. Its sale translates to a price of $56,000 per carat and sets a new record price for a Lulo white diamond.

According to Lucapa, the stone was the largest rough diamond ever found in Angola and the biggest diamond ever recovered by an Australian company. It’s also the 27th largest diamond ever found globally.

 

The Lulo Diamond Project is a partnership between Endiama, Angola’s national diamond company, Lucapa Diamond Company, and a private investor, Rosas & Pétalas.

Here’s what Stephen Wetherall, Lucapa Chief Executive, had to say about the high-carat potential of the Lulo Diamond Project:

“The sale of a single diamond for US$16 million underlines the huge potential of the Lulo diamond field to regularly produce gems which are both large and of world-class quality,” he stated.

“We look to the future with tremendous excitement at Lulo as we continue mining these exceptional alluvial diamond areas, growing our alluvial mining capability and advancing the kimberlite exploration program to locate the primary source or sources of these gems.”

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The Lulo Diamond Project began exploring a 1,148 square-mile plot of land in central Angola in 2015, and has so far discovered more than 60 “large special diamonds”.

Angola is fourth in diamond production globally. This 404.2 carat gem, the largest for the Southern-African country, tops the 217.4 carat gem found in 2007 dubbed the “Angolan Star.”

 

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