Business

Mothae production bolsters Lucapa performance

Bataung Moeketsi

LUCAPA Diamond Company Limited (ASX: LOM) has recorded strong production performances at both its Mothae and Lulo high-value diamond mines in the quarter ending September 2019.

This after the Mothae kimberlite mine in Lesotho and the Lulo alluvial mine in Angola achieved combined production of 14,610 carats in the quarter, a quarterly group record.

In a recent statement to the Lesotho Times, Lucapa managing director Stephene Wetherall said that the results were in line with their strategy of expanding high-value diamond production to maximise revenue generation.

“Lucapa Diamond Company Limited (ASX: LOM) and its respective partners are pleased to report strong production performances at both the Mothae and Lulo high-value diamond mines in the September 2019 quarter,” Mr Wetherall said

“The Mothae kimberlite mine in Lesotho and the Lulo alluvial mine in Angola achieved combined production of 14 610 carats in the quarter, a quarterly group record. The results are in line with Lucapa’s strategy of expanding high-value diamond production to maximise revenue generation. “

The results for the quarter included the production of 7 007 carats at Mothae, the highest quarterly result since commercial production commenced in January 2019.

They also included the production of 7 603 carats at Lulo, representing a 67 percent increase over the previous corresponding 2018 quarter and the second-highest quarterly result on record.

“Mothae and Lulo both continued to underline their status as large diamond producers during the quarter, producing a total of 432 over 4.8-carat diamonds including 136 specials (over 10.8-carat diamonds).”

Lucapa controls 70 percent of Mothae kimberlite mine while the remaining 30 percent is controlled by the government. The mine commenced commercial production on 1 January 2019 and Mr Wetherall says the 7 007 carats recorded were 30 percent ahead of their plan.

“The recovered diamond grade of 2.3-carats per 100 tonnes (cpht) for the quarter was 16 percent ahead of plan, while the record 298 726 tonnes treated during the quarter was 11 percent ahead of plan.

“Mothae produced 135 over 4.8-carat diamonds in the quarter including 39 specials. Lucapa expects to provide an update shortly on diamond sales from Lulo and Mothae, while further details of production and exploration activities for the quarter will be provided in the September 2019 Quarterly Report,” Mr Wetherall said.

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Lesotho Times

Lesotho's widely read newspaper, published every Thursday and distributed throughout the country and in some parts of South Africa. Contact us today: News: editor@lestimes.co.ls Advertising: marketing@lestimes.co.ls Telephone: +266 2231 5356

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