Lucapa Diamond Company has announced that the huge diamond it discovered at its Lulo diamond site in Angola's Lunda Norte province has been sold for $22.5 million to an undisclosed buyer.
The 404-carat diamond "represents a spectacular average price of A$55,585 (US$39,580) per carat, which is a record price for a white diamond recovered from Lulo and is further evidence of the positive sentiment in the market for large high-quality gems like those being recovered at Lulo," according to a statement from Lucapa.
Lucapa owns 40% of the project, with state-owned Endiama holding 32%, and private local company Rosas and Petalas the remainder.
Lucapa Chairman Miles Kennedy said recently that the cash from the sale would enable the company to expand its operations in the area.
