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
Ditlhopho di tsile: Vote wisely

This is a significant moment for our democracy, and it is crucial that every eligible voter takes part in shaping the future of our nation. This is a call to action for all the registered voters and stakeholders to ensure a smooth and informed electoral process.First and foremost, if you are a registered voter, now it is the time to get ready. Ensure that you have your voter registration card and identity card (Omang) in order. If you have...

Have a Story? Send Us a tip
arrow up