Advanced Search

Lucapa’s Lulo Sales Hit Quarterly Record

Jan 20, 2016 6:38 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Lucapa Diamond Company reported revenues of $5.6 million (AUD 8.1 million) from three sales of diamonds from the Lulo Diamond Project in Angola in the fourth quarter that ended December 31.

The figure was the highest quarterly sales result achieved by the miner to date, the Perth, Australia-headquartered company said in a statement January 18. The average selling price was $1,468 per carat, the highest since mining commenced in January 2015.

The miner recovered 28 diamonds of 10.80 carats or more during the three months. The two largest gems weighed 74.50 and 66.30 carats. The average stone size increased 12.5 percent to 1.35 carats over the previous quarter.

Processing rates almost trebled to 82,410 bulk cubic meters in the second half of 2015 compared with the first half as additional earth-moving equipment enabled mining operations to be “scaled up.” However, processing rates in the fourth quarter decreased 13 percent sequentially to 38,401 bulk cubic meters because of a mechanical issue with the diamond plant’s dense-media separation module that impacted processing for two weeks, according to the company.

The miner’s full-year sales were $8.8 million, with an average price of $939 per carat.
Tags: Angola, Australia, Lucapa Diamond Company, Lulo, Lulo Diamond Project, mining, Rapaport News
Similar Articles
Lucapa 150Lucapa Rough Sale Yields $2M
Jun 18, 2018
Lucapa Diamond Company brought in $2 million from a sale of rough diamonds originating at its Lulo mine in Angola,
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.