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
Appeal to public transport operators to exercise caution

Those who occasionally use highways like the A1 and A3 roads will bear testimony to have experienced this firsthand as they have been overtaken by overspeeding buses. Sadly, some of the passengers are the ones who urge some bus drivers to overspeed.The result of this madness is the horrific accident that claimed lives of nine people on Sunday evening near Lechana settlement along the A1 Highway.It is reported that the incident occurred after the...

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