Lucapa Releases Q4-2022 Results Featuring New Growth and Recovery of Special Sized Diamonds

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Lucapa has released the results of its fourth quarter of activity during the last year. According to a company press release, record volumes were processed last quarter, recovering four +100 carats including several fancy-colored stones valued at over $5.9 US million were set aside for a Lulo exceptional stone tender.

Managing Director, Stephen Wetherall, commented “This was another solid quarter operationally. We achieved several new operational records, very positive exploration results, record capital returns from Angola and continued to focus on strengthening our balance sheet in the current financial environment”.

He continues: “Most significantly, the Lulo primary source kimberlite exploration activities delivered their best results. We have tangible evidence that the Lulo kimberlite province hosts primary sources containing Special sized diamonds and our methodical approach is now delivering the results that we have been working towards for many years.

Diamond export generated revenue of $1.95 billion U.S. for Angola in 2022, with an annual increase of 1.38 percent, for a total of 8.83 million carats an official report of the country’s Ministry of Mineral Resources, Oil and Gas has revealed. Approximately 21.25 percent of this volume went to Belgium in 2022 according to Alexandre Garrett, Director of Studies, Planning and Statistics Office of the ministry.

Source: Lucapa
Photo Credit: Lucapa