SourcingJul 25, 2024
De Beers’ H1 Revenue Falls 21% in ‘Weak’ MarketSourcingJul 31, 2024
Lucapa Sells 6 Diamonds, Including 14-Carat Pink
The parcel, totaling 447 carats, garnered $12.4 million at the diamond miner’s recent tender.
Lucapa sold a 14-carat pink diamond (pictured lower left) and five white diamonds from the Lulo alluvial mine in Angola in its second tender of the year.
Subiaco, Western Australia—Six diamonds from the Lulo alluvial mine in Angola garnered $12.4 million in Lucapa’s second tender of the year, the mining company announced late last week.
The six diamonds totaled 447 carats.
The group consisted of a 14-carat pink diamond, as well as five white Type IIa diamonds weighing 195 carats, 89 carats, 68 carats, 51 carats, and 28 carats.
The average price per carat was $27,700, with the pink diamond attracting the highest price per carat.
The Lulo mine is operated by Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas, and Angola state-owned diamond company Endiama E.P.
Sodiam E.P., the state-owned diamond trading company, conducted the tender.
“A very pleasing tender result, our second this year,” Lucapa CEO and managing director Nick Selby said.
“Our alluvial project continues to deliver fantastic diamonds that are always in demand through all market cycles and achieve very competitive values.”
Related stories will be right here …
The six diamonds totaled 447 carats.
The group consisted of a 14-carat pink diamond, as well as five white Type IIa diamonds weighing 195 carats, 89 carats, 68 carats, 51 carats, and 28 carats.
The average price per carat was $27,700, with the pink diamond attracting the highest price per carat.
The Lulo mine is operated by Australian miner Lucapa Diamond Company Ltd., private Angolan company Rosas & Petalas, and Angola state-owned diamond company Endiama E.P.
Sodiam E.P., the state-owned diamond trading company, conducted the tender.
“A very pleasing tender result, our second this year,” Lucapa CEO and managing director Nick Selby said.
“Our alluvial project continues to deliver fantastic diamonds that are always in demand through all market cycles and achieve very competitive values.”
Lucapa announced this week it also has recovered a 176-carat Type IIa Lulo mine.
It is the fifth diamond weighing more than 100 carats to be recovered this year and the eighth largest diamond to come out of the mine since commercial production began in 2015, the company said.
A 176-carat diamond recovered from the Lulo mine
It is the 45th diamond weighing more than 100 carats that Lucapa has mined at Lulo.
The continual recovery of large diamonds such as these has been a key source of income for Lulo, said Lucapa, and it has also informed the miner’s kimberlite exploration program.
Through the program, Lucapa is currently bulk sampling kimberlites near where the 176-carat diamond was found.
“The recovery of this 176-carat diamond is yet more confirmation of the massive potential of the kimberlite province where we are focusing our exploration efforts to find the source(s) of these magnificent gems,” said Selby.
He added, “the diamond has not traveled far as it still displays sharp, angular edges.”
Lucapa and its project partners also are exploring for potential primary source kimberlites or lamproites at the Lulo concession and the Brooking project in Australia.
Earlier this month, the miner gave an update on exploration at Lulo following a “severe” wet season in Angola.
It said it is focused on sampling kimberlites near the Cacuilo River; these are considered more likely to be the major sources of the diamonds found in the Cacuilo’s alluvial deposits.
Lucapa also has begun construction on the road to access the “high-priority” L014 kimberlite, which sits beneath the river.
“Now that the wet season is behind us this year, we are excited to be back in full flow with the exploration program and gaining access to the areas that were previously inaccessible due to the wet ground conditions,” Selby said.
“The preparation work is well underway for accessing kimberlite L014, from which we will be doing the necessary delineation drilling and taking bulk samples. Road construction and sample planning is progressing for the other priority targets close to the Cacuilo River. We look forward to bringing further updates to the market, as the sampling results become available.”
More on Sourcing
The Latest
MajorsAug 26, 2024
Longtime Industry Sales Trainer Lenny Zell Dies at 97Said to be the first to write a jewelry sales manual for the industry, Zell is remembered for his zest for life.
WatchesAug 26, 2024
IWC Is Sending Its Watches to SpaceThe company outfitted the Polaris Dawn spaceflight crew with watches that will later be auctioned off to benefit St. Jude’s.
AuctionsAug 23, 2024
Abernethy Pearl Tops Estimates at Auction A buyer paid more than $100,000 for the gemstone known as “Little Willie,” setting a new auction record for a Scottish freshwater pearl.
Brought to you by
Watch: Natural Diamonds: A Great (but Often Untold) Geology StorySupplier Spotlight Sponsored by GIA.
CollectionsAug 23, 2024
Piece of the Week: Gumuchian’s Colorful ‘Spectrum’ NecklaceAnita Gumuchian created the 18-karat yellow gold necklace using 189 carats of colored gemstones she spent the last 40 years collecting.
Weekly QuizAug 23, 2024
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsAug 22, 2024
Kaley Cuoco Has a Three-Stone Engagement Ring With a TwistThe three-stone ring was designed by Shahla Karimi Jewelry and represents Cuoco, her fiancé Tom Pelphrey, and their child.
CollectionsAug 22, 2024
Greenwich St. Jewelers Collabs with TikTok Jewelry Content CreatorThe Manhattan jewelry store has partnered with Xarissa B. of Jewel Boxing on a necklace capsule collection.
Brought to you by
Watch: Forging the Next Generation of Skilled Bench Jewelers at GIASupplier Spotlight Sponsored by GIA
TechnologyAug 21, 2024
Instagram’s Notes Feature Expands to Posts, ReelsActing as temporary virtual Post-it notes, Notes are designed to help strengthen mutual connections, not reach new audiences.
TrendsAug 21, 2024
Carol Woolton To Release New BookThe jewelry historian discusses the history and cultural significance of jewelry throughout time and across the globe.
TrendsAug 21, 2024
Amanda’s Style File: Shimmy and ShakeFrom fringe and tassels to pieces that give the illusion they are in motion, jewelry with movement is trending.
IndependentsAug 20, 2024
Mixed-Media Jewelry Artist Jan Yager Dies at 72The designer and maker found community around her Philadelphia studio and creative inspiration on the sidewalks below it.
ColumnistsAug 20, 2024
Google Ads Payment Policy Change: What It Means For YouThe change to accepted payment methods for Google Ads might seem like an irritation but actually is an opportunity, Emmanuel Raheb writes.
IndependentsAug 20, 2024
Pat Henneberry Releases MemoirThe industry consultant’s new book focuses on what she learned as an athlete recovering from a broken back.
Events & AwardsAug 20, 2024
The Ethical Gem Fair Is Going to CaliforniaThe fair will take place on the West Coast for the first time, hosted by Altana Fine Jewelry in Oakland, California.
MajorsAug 20, 2024
Kathy Hillelson Joins Board of WJA Foundation Hillelson is a second-generation diamantaire and CEO of Owl Financial Group.
Events & AwardsAug 19, 2024
Nominations Are Open for the 2025 Gem AwardsSubmissions in the categories of Jewelry Design, Media Excellence, and Retail Excellence will be accepted through this Friday, Aug. 23.
AuctionsAug 19, 2024
Scotland’s Famed Abernethy Pearl Is Up for Sale Known as “Little Willie,” it’s the largest freshwater pearl found in recent history in Scotland and is notable for its shape and color.
IndependentsAug 19, 2024
Kentucky Jeweler Closing After 89 YearsClements Jewelers in Madisonville cited competition from larger retailers and online sellers as the driving factor.
CrimeAug 16, 2024
Jewels Stolen During Green Vault Heist Back on DisplayMost of the 18th century royal jewelry taken from the Green Vault Museum in Dresden, Germany, in 2019 went back on display this week.
IndependentsAug 16, 2024
Louis Anthony Jewelers Announces First Resort StoreThe Pittsburgh jeweler has opened a store in the nearby Nemacolin resort.
CollectionsAug 16, 2024
Piece of the Week: Jonne Amaya’s ‘Cat Claw’ NecklaceWith a 40-carat cabochon emerald, this necklace is as powerful and elegant as a cat.
Events & AwardsAug 16, 2024
IJO Names Jewel-Craft as VIP Vendor of the YearThe Erlanger, Kentucky-based company was recognized for its reliability when it comes to repairs and fast turnaround times.
SourcingAug 15, 2024
Greenland Ruby Is Up For SaleUnable to pay its debts, the ruby and sapphire miner is looking to restructure and become a “competitive and attractive” company.
TrendsAug 15, 2024
Paola De Luca to Debut Trendbook 2026+ at VicenzaoroThe trend forecaster’s latest guide has intel on upcoming trends in the jewelry market.
Events & AwardsAug 15, 2024
Heather Ingraham Awarded WJA Helene Fortunoff Scholarship Ingraham said she’ll use the scholarship funds to attend the Women’s Leadership Program at the Yale School of Management.
IndependentsAug 15, 2024
DC Jeweler Schools Students About Jewelry Via Summer ProgramMoijey Fine Jewelry & Diamonds held a three-week “Mine to Finger 3D Jewelry Program.”
