Lucapa Diamond grows half year revenue, output

Lucapa Diamond has recorded a combined revenue of A$71.8 million from its operations in Angola and Lesotho in the six months ended 30 June 2021.
The company sold 31,916 carats from both Lulo and Mothae mines at an average price of $1,731/ carat.
Its attributable revenue for the period was A$35.1 million at an average price of $1,437 per carat.
“As a result of a solid overall operational performance combined with the resurgent demand and constrained supply driving rough prices to levels last seen in 2014, Lucapa is, notwithstanding Mothae expansion ramp up limitations, guiding the market to the upper end of the cash operating margin guidance of A$17 million – A$21 million,” said company managing director Stephen Wetherall.
“…we continue to look at avenues to grow margins at our operations, with additional production improvements and technologies already in the pipeline, such as the Lulo infield screening plant ordered and continuous miner technology about to be trialled at Mothae which will have a read-across for Merlin.”
Lucapa produced 26,074 carats in the six months ended 30 June 2021, which was 88% higher compared to the same period in 2020.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished