TAGS/Sodiam Raises $21.6m at Angola Tender
July 25, 24
(IDEX Online) - Trans Atlantic Gem Sales (TAGS) sold 45 stones for a total of $21.6m at tender in association with Sodiam, Angola's state-owned diamond company.
Among the stones sold was a parcel of six diamonds (447 carats) from Lucapa's Lulo alluvial mine in Angola's Lunda Norte region - five of them white Type IIa weighing between 195 and 28 carats - and a 14-carat pink for a total of $12.4m.
TAGS said despite "challenging conditions" it had sold all 33 lots from five mines, and the results had exceeded expectations. At its previous tender, in April, TAGS raised $16.94m.
"Based on these outstanding results, we anticipate increased volumes of rough diamonds to be sold through tenders and a growing number of participating mines as the year progresses," said Anthony Peter, founder of TAGS.
Lucapa said it achieved an average $27,700 per carat from its diamonds. "Our alluvial project continues to deliver fantastic diamonds that are always in demand," said Nick Selby, managing director and CEO.
Pic shows the Lucapa diamonds.