Trans Atlantic Gem Sales (TAGS) and Angola’s Sodiam sold more than $6.5 million worth of large rough diamonds at their latest tender.
The sale featured nine diamonds over 10.8 carats, including two stones greater than 40 carats and one smaller pink stone. All goods at the November 24 to 27 sale in Luanda found buyers, TAGS said Wednesday. Overall, TAGS sells production from seven mines in Angola, though participation in this tender came from three deposits: Lulo, owned by Lucapa Diamond Company, Kaiexpa, and Sangamina, which was offering goods through TAGS for the first time.
Despite challenging conditions in the global diamond market, 17 companies bid on the goods offered at the tender, which comprised a total weight of 226 carats.
“Overall, prices achieved exceeded the mines’ reserve prices in all cases,” the company noted.
Image: Rough diamonds. (Trans Atlantic Gem Sales)
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