Lucapa Diamond Company (ASX:LOM) sees record diamond production

Company News

by Rachael Jones

Lucapa Diamond Company (ASX:LOM) says despite 2019 being a challenging year for diamond producers in respect of sales prices, the year ended with a turnaround in mid-stream demand and prices.

This was seen in a of rough diamond tenders and sales - and strong holiday season jewellery sales in America.

The company continued to drive production and operational efficiencies at the Mothae and Lulo mines in the December 2019 Quarter to counter the decline in global rough diamond demand.

The record results for the Quarter contributed to record annual group production of 49,120 carats and combined sales of US$55.0 million.

Shares in Lucapa Diamond Company (ASX:LOM) last traded at 13 cents.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.