Lucapa achieves record production in 2019

Lucapa Diamond Company Limited continued to drive production and operational efficiencies at the Mothae and Lulo mines in the December 2019 Quarter to counter the decline in global rough diamond demand, which has impacted prices and revenues for diamond producers.

 

While 2019 was a challenging year for all diamond producers in respect of sales prices, the year ended on a more positive note with a turnaround in mid-stream demand and prices - as evidenced in a number of rough diamond tenders and sales - and strong holiday season jewellery sales in America.

 

The record results for the Quarter contributed to record annual group production of 49,120 carats and combined sales of US$55.0 million from the Mothae kimberlite mine and the Lulo alluvial mine in calendar 2019, on a 100% basis.

 

Mothae and Lulo continued to underline their status as niche large stone producers during the Quarter, producing a total of 287 +4.8 carat diamonds for a combined 2019 total of 1,164. This included a combined total of five +100 carat diamonds.

 

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