ASX-listed Lucapa Diamond says diamond sales from both Lulo and Mothae mines in Angola and Lesotho, respectively exceeded A$135 million for the year ended 31 December 2021, a growth of 193% compared to A$46 million recorded in 2020.
Company chairperson Miles Kennedy attributed the growth in sales to strong operational performances and a resurgent diamond market following disruptions caused by the Covid-19 pandemic.
Lucapa’s attributable earnings before interest, taxes, depreciation and amortization (EBITDA) for the year was A$22.3 million, against a loss of A$400 000 the previous year, a strong turnaround of about A$22.7 million year-on-year.
Lucapa’s run-of-mine production achieved an overall average price of A$2,150 a carat, which is more than ten times higher than the world average, he said.
Diamond output from both mines increased 54% to 57,065 carats in 2021 from 37,125 carats produced in the previous year.
Carats recovered at Lulo rose 4% to 24,595 carats with a total of 783 stones produced weighing more than 4.8 carats.
This included 261 specials or stones weighing more than 10.8 carats.
Mothae recovered 32,470 carats in 2021, representing a new annual record and an increase of 141% over the previous pandemic affected year.
Recoveries included 628 stones weighing more than 4.8 carats, of which 168 were specials, said Lucapa.
Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished
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