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Lucapa Sells $1.5M of Rough from Lulo Mine

Jul 31, 2017 6:04 AM   By Rapaport News
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RAPAPORT... Lucapa Diamond Company brought in revenues of $1.5 million (AUD 1.9 million) at its latest tender of rough diamonds from the Lulo mine in Angola, the company reported Monday.

The miner sold 2,070 carats at an average price of $710 per carat, it said. Including this sale — the sixth this year — total proceeds from Lulo in 2017 have reached $17 million, at an average price of $1,458 per carat.

Diamond recovery and grades have continued to improve since the company’s return to high-value mining blocks 8 and 6, Lucapa explained. During the Angolan wet season, mining was focused on block 28, a lower-grade section of the project. However, since the last sale in June, the company has recovered three diamonds weighing more than 50 carats each.
Tags: lucapa, Lucapa Diamond Company, Lulo, Lulo mine, Rapaport News, Rough Diamonds
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