Lulo delivers for Lucapa
Mining News Pro - Diamond miner Lucapa has reported a solid December quarter, with production from its Lulo mine, in Angola, increasing.
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The Lulo mine recovered 6 447 ct during the fourth quarter, a 55% increase on the previous corresponding period, with grades recovered also increasing by 47%.

Lucapa on Friday reported that 4 269 ct of diamonds were sold from Lulo during the quarter under review, at a gross revenue of $6.6-million. While the carats sold declined by 48% on the previous corresponding period, rough diamond prices increased by 31% in the same period.

At the Mothae mine, in Lesotho, production was down 33% on the previous corresponding period, to reach 6 603 ct during the three months to December, while grade recovered dropped by 26%.

Lucapa told shareholders that the variance in grade was largely owing to the different mix of ore processed from the south lobe areas in the fourth quarter of 2020, and pit clean-up following the six month suspension of operations on the back of the Covid-19 pandemic.

No diamond sales were made from the Mothae operation during the December quarter.

“Following a tough 2020 where the diamond market all but stopped, the sector continues to rebound strongly from the pandemic with a better industry balance which has seen diamond pricing return to pre-pandemic levels,” said Lucapa MD Stephen Wetherall.

“We look forward to 2021 with great optimism following a strong final quarter from our two mines and particularly as the sector continues its positive momentum. The expansion of our Mothae mine will enhance returns expected to flow to Lucapa this year from both our operations, and the kimberlite bulk sampling programme at Lulo continues to demonstrate its prospectivity.”


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