Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond company Sodiam jointly earned $21.6 million during their latest diamond tender, which featured special rough diamonds from five mines in Angola. Despite current market challenges, TAGS reported a 100% sell-through rate for the tender, held last week. The event included 33 lots comprising 45 diamonds.
TAGS director Anthony Peter expressed satisfaction with the results, noting they exceeded expectations. He indicated that mines involved in the tender showed eagerness to increase the volume of rough diamonds offered in future tenders, anticipating more participation throughout the year.
A significant portion of the sale came from six diamonds sourced from Lucapa Diamond Company’s Lulo mine in Angola. These stones, totaling 447 carats, achieved $12.4 million at an average price of $27,700 per carat. The parcel included five white, type IIa diamonds weighing 195, 89, 68, 51, and 28 carats, as well as a 14-carat pink diamond.
Lucapa’s managing director, Nick Selby, expressed satisfaction with the outcome, describing it as a “very pleasing tender result.” He highlighted the consistent quality and demand for diamonds from their alluvial project, which continues to perform well across different market conditions and achieves competitive values.
