Record Performances and Increased Revenue Guidance at Lucapa

By John Jeffay / October 18, 2021 / www.idexonline.com / Article Link

(IDEX Online) - Lucapa today announced record performances at its mines in Angola and Lesotho, reflecting strong post-lockdown demand for diamonds. The Australian miner raised its full-year revenue guidance last week by up to 27 per cent, in what it calls a "resurgent diamond market".It said Q3 throughput at the Lulo mine, in Angola, and Mothae, in Lesotho, were both at record high levels.  Lulo also recorded its highest quarterly carat recovery.Lucapa said it was continuing to recover fancy pinks and other high-value stones.In its quarterly activities report to 30 September, Lucapa said: "Strong demand and constrained supply (is) driving prices to levels last seen in 2012."The two mines together processed 324,115 tonnes of ore during the quarter, a variance of +616 per cent on the same period in Covid-hit 2020.  Carats recovered were up 179 per cent to 10,475.Pic shows selection of rough white, pink and yellow diamonds recovered during Q3

Recent News

Geopolitical risk outlook unclear after US election

January 06, 2025 / www.canadianminingreport.com

Low valuations offer a cushion to mining sector

January 06, 2025 / www.canadianminingreport.com

Polarized gold and iron ore moves, moderate aluminum and copper gains

December 30, 2024 / www.canadianminingreport.com

Large TSXV stocks strong on company specific drivers

December 30, 2024 / www.canadianminingreport.com

Canadian political turmoil with Trump trade policy the catalyst

December 23, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok