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Diamonds|Financial|Mining
Diamonds|Financial|Mining
diamonds|financial|mining

Lucapa posts record revenues

28th February 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has reported record revenues for the full year ended December, on the back of a record operational performance at its Lulo alluvial mine, in Angola.

Attributable revenue for the full year ended December reached A$69.1-million, with attributable earnings before interest, taxes, depreciation and amortisation recorded at A$14.9-million.

The company reported a loss after tax of $15.1-million for the year, compared with a profit of $2.8-million in the previous financial year, after recognising a non-cash impairment charge of $10.6-million for Mothae and a $3-million unrealised foreign exchange loss on the intergroup loan from Lucapa to Mothae due to the weakening of the South African rand against the US dollar.

Meanwhile, Lucapa reported a record operational performance from the Lulo mine as the previous year’s capital investment in the processing plant and the mining fleet had a positive impact. Investment in the Mothae processing plant, in Lesotho, also resulted in record throughput in 2022.

Six bulk samples from five kimberlite targets at Lulo were treated during the year and 41 diamonds weighing a total of 66.05 ct were recovered including two diamonds larger than 10.8 ct.

Edited by Creamer Media Reporter

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