IGE Resources AB has completed its first diamond sale, selling 3,407 carats of rough diamonds in Luanda, Angola. The sale of diamonds, originating from IGE’s Cassanguidi project in Angola, yielded an average price of US$162 per carat before sales taxes. The price is slightly above the most recent diamonds sale from Pangea DiamondFields plc, the Southern African group IGE recently acquired.

“The sale marks that IGE now is not only a diamond exploration company, but also a producing company in Southern Africa. This is truly the beginning of a new era for IGE. We are also satisfied with the average price, which suggests that the rough diamonds market is hardening,” said IGE Resources CEO Tomas Fellbom.