Lucapa’s production up 147% in Q4

The year 2016 recorded an impressive increase (on y-o-y basis) in production for Lucapa Diamond Company Limited – in the Q4 2016 period production rose recorded a 147 percent from 2,151 carats to of 5,313 carats, the highest quarterly production achieved during the Angolan wet season, according to the company, reports say.

During FY 2016 production soared 135 percent from 8,394 carats to 19,833 carats, as per reports.

The sales revenues achieved by Sociedade Mineira Du Lolo (SML), an alluvial mining company in which Lucapa has 40 percent stake and is also its operator stood at a gross value of US$ 14.6 million, in the fourth quarter. It sold altogether 4,676 carats of diamonds in two parcels with the average price of US$ 3, 111 per carat, described by Lucapa as exceptional, reports add. Sales for the year 2016 was at US$ 51 million including the sales of the fourth quarter. The average price stood at US$ 2,983 per carat.

The fourth quarter included the recovery of 79 special stones which were above 10.8 carats, while in the quarter of 2015 the said recovery of special stones amounted to 28.

Inventory at SML was at 2938 carats, as per reports.