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Wed, 02 Mar 2016 12:55 - Updated Wed, 02 Mar 2016 12:55

Endiama confirms sale of largest diamond ever found in Angola

Luanda - The National Diamonds Company (Endiama) confirmed this Wednesday in Luanda the sale at the international market of the largest diamond ever found in the country with the weight of 404, 23 carats for 16 million dollars (USD).

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An official source from the Angolan company states that as a result of the transaction, it was paid taxes and fees to the state in the amount of USD 2.14 million and the remainder divided among the partners according to their shares in the Lulo project, located in Lunda Norte province.

"Projecto Lulo" is operated under a partnership in which Edniama holds a 32 percent share, while Lucapa Diamond Company Limited holds 40 percent and “Rosas & Pétalas” 28%.

In the same sale transaction, it was also traded another diamond of 120.35 carats from Lulo, for USD 2.942.557.50.

According to studies, Angola’s subsoil holds 90 percent of the mineralised kimberlites and the diamond so far explored in the country over the last 100 years is just a small portion of the existing potential.

Angola is among the world’s five top diamond producers in value and among the 10 major producers in amount. Its annual production is estimated at 8.3 million carat, with a net revenue of Usd 1.1 billion.

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