Lucapa receives A$5m dividend from Angola subsidiary

News

Lucapa receives A$5m dividend from Angola subsidiary

18th February 2022 By: Marleny Arnoldi – Creamer Media Online Writer

ASX-listed Lucapa Diamond Company has received a 2021 interim dividend payment of A$5-million, or $2.6-million, from its 40%-owned and wholly operated alluvial mining company Sociedade Mineira Do Lulo (SML), based in Angola.

SML, which operates the Lulo project, is co-owned by Angola’s State-owned mining company Empresa Nacional de Diamantes and a private Angolan company called Rosas & Petalas.

The total interim dividend amount shared between the shareholders was A$14-mllion, or $10-million.

The dividend declaration followed what had been a record year for the Lulo project, with record volumes processed and carats recovered, with revenue of more than A$100-million generated from an average diamond price achievement of $2 808/ct.

Meanwhile, Lucapa also expects to soon settle a loan it has with New Azalian, for an amount of A$10.5-million.

New Azalian is a Perth-based resources investor, an existing shareholder in Lucapa and is associated with nonexecutive director Ross Stanley