Record-breaking 404.2ct diamond sells for £11.5m

404 dia

Lucapa Diamond Company has sold the record-breaking 404-carat diamond it recovered earlier this month in Angola for $16 million (£11.5m). 

According to a statement from Lucapa Diamond Company, the selling price of $39,580 (£28,556) per carat is the highest to date for a white diamond mined at the Lulo Diamond Project in the African nation.

The type-IIa, D-color gem was the largest recorded diamond ever found in Angola and 27th largest diamond in the world.

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Stephen Wetherall, Lucapa’s chief executive officers, comments: “The sale of a single diamond for $16 million underlines the huge potential of the Lulo diamond field to regularly produce gems which are both large and of world-class quality.”

Lucapa is the operator of the Lulo project and has a 40% interest in the alluvial diamond mining operations. Endiama has a 32% interest and private Angolan partner Rosas & Pétalas holds 28 percent.

Lucapa chairman Miles Kennedy said earlier this month the cash from the sale would allow the company to expand its operations in the area.

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