ASX-listed Lucapa Diamond recorded an attributable EBITDA of $16.6 million in 2021 compared to $400 000 in 2020 on the back of stronger diamond prices.
The group said its profit after tax for the year was $2.8 million compared to a loss of $9.7 million loss, the previous year.
At Lulo in Angola where Lucapa holds a 40% stake, a record EBITDA of $37.2 million was registered in 2021 compared to $6.2 million in 2020 as a consequence of strong operational performances and pricing environment.
It said its 70%-owned Mothae mine in Lesotho achieved an EBITDA of $5.6 million for 2021 compared to $1.1 million, a year earlier.
Lucapa’s attributable portion from Lulo was $14.9 million and $3.9 million from Mothae.
It said the cutting and polishing partnerships at both mines “performed well” last year.
Lulo accrued $2.5 million from the polishing partnership, while Mothae raked in $1.6 million for the year.
Lucapa said diamond prices rose by more than 30% on average in 2021 as inventory levels of polished stones depleted due to the COVID-19 pandemic.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
Exclusive
Dmitry Fedorov: I want our jewelry to be displayed at a museum in the future
Dmitry Fedorov is the founder of the eponymous jewelry house. His main focus is the creation of Orthodox-inspired premium luxury jewelry of high artistic merit. He told Rough&Polished about his journey in the jewelry industry, about choosing the ‘Orthodox...
28 october 2024
Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki
The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...
14 october 2024
James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration
London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...
07 october 2024
Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products
Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...
30 september 2024
Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices
The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...
23 september 2024
