Lucapa subsidiary produces 8,853 carats in September quarter

A record 8,853 carats of diamonds were produced in the quarter closing September 2016 by a subsidiary set up by Lucapa and its partners, reports say. The subsidiary is named Sociedade Mineira do Lulo (SML). Among the diamonds produce are 137 specials weighing a total of 3,210 carats, as per reports. This production signifies a 154 percent increase over the production in the September quarter of 2015.

Lucapa holds 40 percent stake in SML, with the others being Endiama with a 32 percent stake and Rosas & Petalas with 28 percent stake, as per reports.