Karowe Mine triples Lucara revenues

On the back of a 24% production ramp at Karowe Mine in Boteti as well as the company's diamond auctions in Gaborone, Lucara is now debt free and has moved into a profit position from the previous period losses.

The Botswana Stock Exchange (BSE) listed company held two sales during the period, achieving an average price of $625 per carat. Lucara posted a profit of $15 million compared with a loss of $3.4 million the previous year. Production at the company's Karowe rose 24% to 113,881 carats, while the company sold 81,357 carats from the mine.