Lucara revenues defy market downturn

Monday, November 20, 2023 | 410 Views |

Lucara Diamond Corp’s sales for the third Quarter of 2023 have defied dampened diamond market expectations, as they realised a 14% uptick in sales compared to the same quarter last year.

The company said for the quarter ending September, its sales picked to $56.9 million outperforming market expectations that diamond revenues will sink due to a subdued diamond market.

A quarterly report released by the Canadian company noted that the strong financial performance is a derivative of infused operational efficiency that has allowed the diamond miner to cut down on costs while enhancing productivity. “The third quarter results for the company were very good when considering market dynamics and the current state of the diamond sector.

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