Industry News by Nemesis

Lucapa Rakes in $5.5m from Lulo, Mothae Run of Mine Diamond Sales

February 13, 2020

 

Lucapa Diamond has raked in $5.5 million from the first sales for 2020 of diamonds from its 40%-owned Lulo alluvial mine in Angola and its 70%-owned Mothae kimberlite mine in Lesotho. 


It sold 1,548 carats of Lulo diamonds for gross proceeds of $3.4 million, representing an average price per carat of $2,200.  


Lucapa also sold 6,306 carats of Mothae diamonds for $2.1 million, representing an average price per carat of $339.


The Lulo alluvial mine and Mothae kimberlite mine both produce large and high-value diamonds, with more than 75% of revenues generated from the recovery of +4.8 carat stones.

 
Lulo has produced 14 +100 carat diamonds to date and is one of the highest average US$ per carat alluvial diamond producers in the world.


The new 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho also commenced commercial mining operations in January 2019. 


It produced more than 30,000 carats in its first year of production, including 10 +50 carat diamonds.

 

Image credit: Lucapa Diamond

 

Source: Rough&Polished

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