Lucapa's diamond payday

9th August 2019
Resources Rising Stars

Lucapa Diamond Company and its partners have generated A$8.8 million in the latest round of diamond sales from the Lulo alluvial operation in Angola and the Mothae kimberlite mine in Lesotho, taking total sales for the year to date just above $50 million (reports MiningNews)

Lulo sales totalled $6.3 million from a run of mine parcel of 3558 carats for an average of $1768/ct.

Total Lulo sales of 9582ct generated $37.4 million at an average price of $3899/ct in 2019.

Lucapa is 40% owner and operator of the mine.

The latest sale did not include a high-value 46ct pink diamond being considered for cutting and polishing by the Lulo partners to capture higher margins.

The next sale is planned before the end of the quarter.

At Mothae, where Lucapa owns 70%, a parcel of 4376ct was sold for $2.5 million at an average of $688/ct - a lower figure as the new plant at Mothae is allowing smaller diamonds to be recovered.

The total would have been higher, but Lucapa and its 30% partner, the Lesotho government, elected to hold back a 36ct D-colour stone, which is also being considered for cutting and polishing


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