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24 december 2018

Lulo partners announce dividend payments and loan repayment

24 december 2018
During the General Assembly of Sociedade Mineira Do Lulo, a joint venture company between Lucapa Diamond, Endiama and Rosas & Petalas, the partners resolved to declare a $8 million distribution and loan repayment.

Image credit: Lucapa

As Lucapa owns 40% interest in SML, it will receive $1.6 million out of $4 million distribution to Lulo partners.
An additional $4 million will be used for the loan repayment to Lucapa.
The full sum will be paid from the cash reserves of SML.
The JV operates the Lulo alluvial mine, the world’s highest US$ per carat alluvial production.
It is the third year running that SML declares dividend to its stakeholders.

Victoria Quiri, Correspondent of the European Bureau, Rough&Polished, Strasbourg