Lucapa Diamond announces exceptional processing rate at Lulo

Mining company Lucapa Diamond Company Ltd., announced that at its Lulo Diamond Project in Angola, the processing rates have increased by 173 percent to 82,410 bulk cubic metres (bcm) in the second half of 2015, reports say. In the first half of the year, the processing rates were 30.176 bcm, reports say. The performance in the second half is being attributed to “the delivery of more earth moving equipment enabled mining operations to be scaled up”.

Recovery in the second half of the year amounted to 5,630 carats (2,765 carats in H1 2015). The average size of the recovery was 1.25 carats in the second half from 0.88 carats in the first half.

The latter six months of the year delivered 71 special diamonds (stones which were over 10.8 carats) up from 15 specials recovered in H1. Of the 71, the two largest diamonds in the fourth quarter of 2015 were of 74.5 carats and 66.3 carats, respectively.

Also, the fourth quarter saw three sales being held, churning revenues worth A$ 8.1 million. With this, the H2 2015 sales revenue valued A$ 9,115,237, while actual sales in H1 of the year valued A$ 3,666,929, as per reports.