Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond trader, Sodiam, successfully sold over $15.4 million in rough diamonds at their first tender of 2025.
Held from March 5 to 13 in Luanda, the auction featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats. Nearly 95% of the diamonds sold, with contributions from seven Angolan mines—Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca, and Luele.
Among the highlights were two high-value stones from Lucapa Diamond Company’s Lulo mine: a 93-carat and a 78-carat white Type IIa diamond. These diamonds fetched an average of $20,400 per carat, with the 78-carat stone achieving the highest price.
Lucapa Managing Director Alex Kidman commented, “The strong results for this tender are a positive sign, indicating a recovery in the diamond market after the downturn of late 2024. We’re optimistic about a stronger year ahead.”
Despite global market challenges, the auction saw participation from 41 companies, with bidding on 1,448 carats. TAGS noted that prices were significantly above the reserve price, signaling renewed market confidence.