Mmegi

Lucara revenues defy diamond downturn

Shining on: Karowe’s large stones are helping Lucara survive the diamond downturn  PIC: LUCARA DIAMONDS
Shining on: Karowe’s large stones are helping Lucara survive the diamond downturn PIC: LUCARA DIAMONDS

Lucara Diamonds posted revenues of $80.8 million for the half year ended June 30, marginally higher than the corresponding period last year, despite the depressed market conditions affecting diamonds.

Lucara directors said the resilient performance was helped by large, high-value stones recovered at Karowe Diamond Mine, while the company’s overall financial health was assisted by cost recovery initiatives and the strong dollar.

Every quarter, Lucara’s revenues ticked up to $41.3 million in the three months to June 30, from the sale of 76,387 carats, compared to $41.1 million in the three months to March 31, 2024, from 93,560 carats.

Editor's Comment
Exercise extra caution!

Unfortunately, petty thieves tend to be more vicious around this time as they also prepare for the festive season. Culturally, many Batswana go home for the holiday, and petty thieves are amongst those who go home. Burglaries, car break-ins, and attacks on unsuspecting pedestrians seem to be on the rise!That is not all, as scammers continue to take money from pensioners as well as other Batswana who may fall prey to their unscrupulous tactics....

Have a Story? Send Us a tip
arrow up