Lucapa posts strong H1 results

Lucapa Diamond has posted attributable cash operating margin (EBITDA) of $10.3 million on the back of record revenues for the six months ended 30 June 2021.
The company’s revenue from the Mothae and Lulo mines rose by 297% to $27 million.
Lulo recorded revenue of $15.5 million while Mothae posted $11.5 million.
Lucapa’s combined output for the first half of the year also jumped 88% to 14,890 carats.
Of this total output, Mothae contributed   10,408 carats while Lulo produced 4,482 carats.
“Our cost control and preservation strategy initiated in response to the COVID pandemic last year, set Lucapa up well to capture the resurgence in the diamond market and achieve record financial results in the first half of this year,” said Lucapa managing director Stephen Wetherall.
“Our strong first-half performance is a credit to our operational teams and partners who have worked hard to position the operations to achieve these results.”
He said the company will continue to build on this into the second half of the year as it strives to achieve the upper-end of the company’s cash operating market guidance of A$17-21 million for the full year.

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