Historic Karowe Mine targets P2.4bn revenues
Tuesday, December 08, 2015
Bullish: Karowe Mine expects to dig up more carats nest year
The revenue will range from $200 million to $220 million (P2.4 billion) from its Karowe mine next year.
The operating guidance excluded revenue from the sale of exceptionally high-value stones such as the 1,111-carat gem it unearthed last month, the company said in a statement.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...