OTHER

Lucapa toasts record quarter

LUCAPA Diamond Company says strong performances at its Mothae and Lulo mines led to a record September quarter of 14,610 carats produced.

Staff reporter
 Diamonds from Lulo in Angola

Diamonds from Lulo in Angola

Mothae in Lesotho produced 7007ct, a new record and 30% ahead of plan.

The 70%-owned mine achieved commercial production in January.

The recovered diamond grade of 2.3ct per 100 tonnes for the quarter was 16% ahead of plan, while the record 298,726t treated was 11% ahead of plan.

Mothae produced 135 diamonds of more than 4.8ct in the quarter, including 39 specials.

At the 40%-owned Lulo concession in Angola, production was 7603ct, up 67% year-on-year and the second-highest result on record.

Lucapa said the strong production increase was primarily due to a significant increase in the recovered diamond grade of 10.5ct per 100 cubic metres as more material was processed from the new higher grade flood plain Mining Blocks 19 and 31.

Lulo produced 297 diamonds of more than 4.8ct, up 138% year-on-year, including 97 specials, up 111%.

Lucapa said it would soon provide an update on sales.

Shares in the company were up 3.7% to A14c. Euroz Securities has a 61c price target.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.