Trans Atlantic Gem Sales (TAGS) has successfully concluded a diamond tender in collaboration with Sodiam, Angola’s state-owned diamond company, achieving notable sales figures. The tender saw TAGS selling 45 stones, generating a total revenue of $21.6 million.
Among the highlights of the tender was a collection of six diamonds totaling 447 carats sourced from Lucapa’s Lulo alluvial mine in Angola’s Lunda Norte region. This included five white Type IIa diamonds weighing between 195 and 28 carats, alongside a 14-carat pink diamond, fetching a combined total of $12.4 million.
TAGS expressed satisfaction with the outcome despite facing “challenging conditions,” having successfully sold all 33 lots from five different mines, surpassing initial expectations. The company had previously raised $16.94 million in its April tender.
Anthony Peter, founder of TAGS, expressed optimism about future prospects, stating, “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.”
Lucapa reported an impressive average price of $27,700 per carat for its diamonds from the tender. Nick Selby, managing director and CEO of Lucapa, commented, “Our alluvial project continues to yield exceptional diamonds that remain highly sought after.”
The successful tender reflects the robust demand for high-quality diamonds and underscores the strategic importance of Angola’s diamond industry in the global market.
