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
Don't let FMD outbreak drag on

Acting Agriculture Minister, Edwin Dikoloti, is right in saying opening an export-ready facility whilst Foot and Mouth Disease (FMD) is still spreading would risk getting the whole country blacklisted before a single carcass leaves the door.A ban like that would break the already stressed nation. So, the postponement, painful as it is, is the right thing to do. The local economy is being squeezed from both ends. FMD has already slammed the door...

Have a Story? Send Us a tip
arrow up