Mining company Lucapa reported a record full-year 2021 total revenue of US$98 million or an average of US$1,564/carat. The miner also announced record operational performances from both Lulo (SML), the company’s 40% held alluvial diamond mining operation in Angola, and Mothae in Lesotho, the latter sold via Antwerp. Both operations processed record volumes, recovered and sold record carats, and made some exceptional diamond recoveries. In addition, Lulo’s exploration sampling includes the discovery of 13 diamonds from the Canguige catchment area, including eight Type IIa diamonds.
According to the company, 2021 saw a quick return of and growth in consumer demand in the key consumption market North America and emerging markets China and India. With polished inventory levels in the industry being severely depleted through the pandemic, both rough and polished diamond prices rose steeply, with rough prices increasing by over 30% on average in 2021.