OTHER

Lulo's recoveries jump on record mined volumes

Increased volume of special stones recovered, sales also higher

Staff reporter

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The mine, which is also owned by Empresa Nacional de Diamantes and Rosas & Petalas, produced 5,058 carats during the quarter, up 20% year-on-year, at a grade of 7 carats per hundred cubic metres, down 5%.

The number of special stones recovered rose 7% on the year to 61, weighing 1,412ct, which was 18% higher than a year ago. Of these, one was a 46ct pink diamond and three were over 70ct stones.

Treated mining volumes for the quarter rose 27% to a record 72,671 bulk cubic metres.

Lucapa and its partners sold US$5 million worth of diamonds during the quarter, up 6% year-on-year, at an average price of $1,479 per carat, despite withholding specials from the most recent diamond sale.

After the sale, Lulo had a diamond inventory of 2,755ct the end of June, 61% higher than the same time in 2017.

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