Lulo delivers higher output in June quarter

PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has reported a 27% increase in mining volumes from its Lulo diamond project, in Angola, during the June quarter, increasing diamond production by 20%.

The ASX-listed company on Wednesday reported that 5 058 ct were produced during the three months to June, with the weight of specials, or stones larger than 10.8 ct, up by 18% on the previous quarter, to 1 412 ct.

Specials recovered during the quarter under review included the largest coloured diamond recovered to date from Lulo, at 46 ct, and three diamonds larger than 70 ct.

Gross sales revenue of $5-million was achieved during the quarter, and $15.9-million for the half-year ended June, up 6% and 3% respectively, from the prior reporting periods.

The sales represented an average price per carat of $1 479 for the quarter and $1 642 for the half-year.

At the end of June, Lucapa had a diamond inventory of 2 766 ct, which included a number of large and high-value specials.