Lucara completes P440m diamond tender
Monday, April 14, 2014
Karowe Mine
The TSX- and Gaborone-listed miner said it had sold 20 diamonds in single lots totalling 1,191 carat, which resulted in an average price per carat of $42,347.
Of the 20 diamonds on offer, 15 sold for more than a million dollars each, including eight that sold for more than $2-million each.
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...