LUCAPA MANAGES TO PROFIT IN H1 DESPITE “A CHALLENGING PERIOD”
Lucapa, which owns and operates the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho, raked in a net profit of $1.1 million for the first six months of the year (ended June), compared to a loss of $43 million in the corresponding period in 2018, according to Rough & Polished.
Lucapa commented that it achieved the profit “during a challenging period for many diamond miners globally, particularly those producing primarily lower-value goods”. According to the miner, the profit “has put Lucapa on track for a stronger performance in the second half of 2019 as mining at Mothae transitions to higher-margin diamond zones and the production expansion at Lulo is delivered”.
At Lulo in Angola, Lucapa produced 7,236 carats during the first half of the year, while the Mothae mine produced 13,267 carats during the same period. The revenue from both mines totaled $29.4 million during H1.