Karowe Mine pushes Lucara revenue up 20%

Tuesday, February 24, 2015

Lucara Diamond Corp. reported that revenue rose 20 percent year-on-year to $70.5 million in the fourth quarter of 2014, even as the rough market softened during the period.

Diamond sales grew due to higher prices despite a 6 percent drop in the volume of diamonds sold to 104,405 carats.

The company stated that the average value of its rough diamonds increased 56 percent to $675 per carat. All of Lucara’s diamonds came from Karowe mine in Botswana, which is the company’s sole producing mine.

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