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
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