Lucapa Diamond Company experienced significant financial growth in the third quarter of 2024, with revenue from its Lulo mine rising by 86% to $16.9 million. The company announced that the average price for rough diamonds from the Angola site nearly tripled compared to the previous year, reaching $3,033 per carat.
Despite facing late-season flooding, production at the Lulo mine remained stable, matching last year’s third-quarter output of 7,058 carats. During this period, which ended on September 30, Lucapa conducted two run-of-mine sales and one special tender. The tender generated $12.4 million from the sale of six diamonds weighing a total of 447 carats.
Notably, a 176-carat type IIa diamond, recovered during the quarter, sold for $3 million after the reporting period. Additionally, on July 31, Lucapa completed the sale of its 70% stake in the Mothae mine in Lesotho, which had produced 2,751 carats of rough diamonds that month. The company reported rough sales from Mothae during the quarter totaling $1.8 million for 4,186 carats, averaging $420 per carat.
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