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Lulo's recoveries jump on record mined volumes

Lucapa Diamond Company’s (ASX:LOM) 40%-owned Lulo diamond in Angola saw diamond recoveries jump in the June quarter on record quarterly mining and treatment volumes.
Lulo's recoveries jump on record mined volumes Lulo's recoveries jump on record mined volumes Lulo's recoveries jump on record mined volumes Lulo's recoveries jump on record mined volumes Lulo's recoveries jump on record mined volumes

Some of the Lulo diamonds sold during the June quarter

Staff reporter

The mine, which is also owned by Empresa Nacional de Diamantes and Rosas & Petalas, produced 5,058 carats during the quarter, up 20% year-on-year, at a grade of 7 carats per hundred cubic metres, down 5%.

The number of special stones recovered rose 7% on the year to 61, weighing 1,412ct, which was 18% higher than a year ago. Of these, one was a 46ct pink diamond and three were over 70ct stones.

Treated mining volumes for the quarter rose 27% to a record 72,671 bulk cubic metres.

Lucapa and its partners sold US$5 million worth of diamonds during the quarter, up 6% year-on-year, at an average price of $1,479 per carat, despite withholding specials from the most recent diamond sale.

After the sale, Lulo had a diamond inventory of 2,755ct the end of June, 61% higher than the same time in 2017.

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