404.2 carat diamond sells for US$ 16 million

Lucapa Diamond Company’s big find, the 404.2 carat diamond from its Lulo Diamond Project in Angola sold for a whooping US$ 16 million, as per reports. The diamond was reputed as the biggest recorded diamond ever found in Angola and the 27th biggest diamond in the world.

The company noted that the diamond’s average price realised at US$ 39,580 per carat was a record price achieved for a white diamond found at the Lulo project, as per reports.

Previous to this the Lulo mine has delivered a large stone of 133.4 carats. Lucapa has so far recovered 60 large special diamonds from alluvial mining operations at Lulo and post the sale of the 404.2 carat diamond, the company is confident of the potential of the project in delivering diamonds larger in size and of world class quality.

Apart from Lucapa which ahs a 40 percent stake in the Lulo project, Endiama Angola's national mining partner holds a 32 percent stake and Rosas & Petalas has 28 percent.