- Write by:
-
Thursday, July 8, 2021 - 16:28:41
-
397 Visit
-
Print
Mining News Pro - Diamond miner Lucapa has reported a strong first half of production for the 2021 calendar year, on the back of record volumes from both its Lulo and Mothae mines during the second quarter.
The Lulo project, in Angola, recovered 6 551 ct of diamonds during the quarter ended June, up 123% on the previous corresponding quarter, generating record revenues of A$38.3-million for the quarter, and A$50.6-million for the half-year.
The Mothae operation, in Lesotho, recovered 9 603 ct of diamonds during the quarter ended June, generating revenues of A$6.4-million for the quarter and a record A$21.2-million for the half-year.
“The operational performance at the Lulo and Mothae mines, notwithstanding the adverse influence of Covid-19, inclement weather and expansion optimisation delays, have been very solid in the first six months of 2021,” said Lucapa MD Stephen Wetherall.
“The quickly returning retail demand and low rough diamond supplies have combined to fuel rising rough diamond prices, which are now back to levels last seen in 2014. This has seen Lucapa exceed its financial target for the first six months of 2021 and places the company well on track to achieve the upper end of our market guidance with respect to revenue and cash operating margin,” said Wetherall.
Looking at the full year, Lucapa is expecting production to reach between 40 400 ct and 42 600 ct, generating revenues of between A$50-million to A$56-million, at margins of between 33% and 36%.
Cash operating costs for the full year are targeted at between $638/ct and $657/ct.
Short Link:
https://www.miningnews.ir/En/News/614898
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
BHP Group Ltd. proposed a takeover of Anglo American Plc that values the smaller miner at £31.1 billion ($38.8 billion), ...
Nigeria has revoked 924 dormant mining titles immediately and invites investors to freely apply for the affected ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
No comments have been posted yet ...