Safdico’s Angolan diamond deal recognised as 2021 ‘game changer’

In 2020, DeBeers sightholder, Safdico, entered into an arrangement with fast-rising diamond miner, Lucapa Diamond Company, for an opportunity to purchase up to 60% of that company’s annual production at its Angolan mine.

Under the deal, Safdico buys, cuts and polishes a portion of Lulo Mine’s production with the two partners sharing profits from the eventual sale of the stones. The deal was seen as significant as it marked the first time a diamond cutting and trading firm outside the De Beers group, secured supply from outside Botswana.