Record Performances and Increased Revenue Guidance at Lucapa
October 18, 21
(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