Trans Atlantic Gem Sales (TAGS) and Angola’s Sodiam sold more than $15.4 million worth of large rough diamonds at its first tender of the year.
The sale featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats, the company said last week. Some 95% of goods at the March 5 to 13 sale in Luanda found buyers. TAGS sells production from seven mines in Angola, all of which contributed to the sale: Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca and Luele.
Two of the 36 stones were from a parcel Lucapa Diamond Company’s Lulo mine provided that included white, type IIa diamonds weighing 93 and 78 carats. Together the stones fetched approximately $20,400 per carat, with the 78-carat one attracting the higher price per carat, Lucapa reported.
“The first tender result for 2025 has been very encouraging, with strong prices received for both stones,” said Lucapa managing director Alex Kidman. “The early indications are that the diamond market is recovering from the lows seen towards the end of 2024, and we are looking forward to a much more promising year.”
Despite the still-challenging conditions in the global diamond market, 41 companies bid on the goods at the tender, which comprised a total of 1,448 carats.
“Prices were well in excess of reserve price,” the company noted.
Image: The Lucapa rough diamonds. (Lucapa Diamond Company)
