Lucapa on track for profits in 2019

PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up.

Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three months to June, bringing the first half production to 20 505 ct.

The Mothae operation produced 6 349 ct of diamonds, which was some 20% ahead of plan, while Lulo delivered 3 868 ct.

Diamond sales during the quarter generated revenues of A$19.5-million, bringing the first half sales revenue to A$41.4-million, with 7 001 ct of diamond inventories remaining at the end of the quarter, and at the end of the half-year.

The next sale of Mothae diamonds is scheduled for July this year, with Lucapa planning three diamond sales from the mine in the second half of 2019, compared with the two conducted in the first half.