[2019-01-15] Angola’s first diamond auction to be held on 31 January in Luanda

Source: Macauhub

The first auction of exceptional quality diamonds extracted from the Lulo concession in Angola will be held on 31 January in Luanda, Australia’s Lucapa Diamond Company reported on Monday.

The diamonds will be sold at a competitive auction under the new diamond sales policy approved by the Angolan government under the leadership of President João Lourenço.

The auction will include seven diamonds of exceptional quality, including a pink 46-carat stone and six white stones with weights ranging between 43 and 114 carats.

In February 2016, the Lucapa Diamond Company announced the discovery of a 404-carat diamond in the Lulo alluvial mine, in Lunda province, the largest ever found in the country, and in February of the following year it found the second largest with 277 carats.

The auction is being organised by Angolan diamond trading company Sodiam and the diamonds to be sold were offered for sale by Sociedade Mineira do Lulo.

The Australian company is the operator of Sociedade Mineira do Lulo, with a stake of 40%, and its partners are the state-owned Empresa Nacional de Prospecção, Exploração, Lapidação & Comercialização de Diamantes de Angola (Endiama), with 32% and Angolan private company Rosas & Pétalas with 28%.