ASX-listed Lucapa Diamond is expected to receive $13.6 million from its 40%-owned Lulo alluvial mine operations, in Angola.
It said the shareholders approved the interim dividend and capital loan repayment at the recently held General Assembly in Angola following a strong operating and financial performance by Sociedade Mineira Do Lulo (SML) in 2021.
Of the $13.6 million, $10 million would be a repayment of Lucapa’s capital loan to SML, while $3.6 million would be the company’s 40% share of a $10 million SML interim dividend, net of withholding tax.
The capital loan to SML by Lucapa was used for alluvial exploration and mine development programmes and following the $10 million repayments, the loan balance was now $17 million.
The Lulo mine had been in commercial production since 2015.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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