Strong holiday season sales reported by Lucapa

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January 7th, 2020 – By Michael McCrae

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(Kitco News) – Lucapa Diamond (ASX:LOM) said Monday its Mothae and Lulo mines produced over 49,000 carats in 2019 and achieved combined sales of $55 million.

“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 jewelry sales in America,” said the company in a news release.

Lucapa said Lulo Mine faced record rainfall and labor action in the past quarter. The mine was still able to produce 4,170 carats.

“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.”

Lucapa’s Lulo mine is located in Angola, and Mothae Mine is located in Lesotho.

Source: https://www.kitco.com/

Disclaimer: This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.




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