TAGS & Sodiam Sell $15.4M in Rough Diamonds at 2025 Luanda Tender
Trans Atlantic Gem Sales (TAGS) and Angola’s state-owned diamond trader, Sodiam, successfully sold more than $15.4 million worth of large rough diamonds at their first tender of the year.
The sale, held from March 5 to 13 in Luanda, featured 36 diamonds over 10 carats, including seven stones exceeding 60 carats.
Approximately 95% of the goods found buyers. TAGS, which markets production from seven Angolan mines—Lulo, Tchegi, Somiluana, Kaixepa, Chitotolo, Catoca, and Luele—saw contributions from all of them in this auction.
Among the highlights were two high-value diamonds from Lucapa Diamond Company’s Lulo mine—a 93-carat and a 78-carat white, Type IIa stone.
These gems fetched an average of approximately $20,400 per carat, with the 78-carat stone achieving 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. “Early indicators suggest that the diamond market is recovering from the lows seen towards the end of 2024, and we look forward to a much stronger year.”
Despite ongoing challenges in the global diamond market, 41 companies participated in the auction, bidding on a total of 1,448 carats.
“Prices were well above the reserve price,” TAGS noted, reflecting renewed confidence in the market.
SOURCE:angolanminingoilandgas.com
