Mining

Lucara Diamond shows encouraging results for QA 2016

Friday, 06 May 2016 09:45

Miner Lucara Diamond has recorded during the first quarter of 2016, financial results, better than in Q1 2015.

According to the new results, the firm had $50.6 million of revenues against $29.6 million during the first semester of 2015. Adding the $53.1 million it got from the Karowe diamonds sales last month, revenues total $100 million. Treasury was at $144.3 million last quarter against $87.5 million in 2015. Revenues before interests, tax, depreciation and provisions (EBITDA) over the period were $30.7 million with a 61% margin, while in Q1 2015 they were $11.9 million.

Also, the firm declined all responsibility regarding the rehabilitation of the Mothae project, estimated to about $2 million, as it transferred its stake in Mothae Diamonds to the government of Lesotho.

The company’s CEO, William Lamb has in fact said the sale of the Lesedi La Rona diamond; second biggest in the world weighing 1,109 ct already has picked the interest of many.

Lucara Diamond Corp is Canadian diamond miner who holds 100% of the Karowe project in Botswana.

Louis-Nino Kansoun

On the same topic
AMEA Power commissioned a 120-MWp solar photovoltaic plant in Kairouan, Tunisia’s largest to date. The project marks Tunisia’s first renewable...
Aya targets 6 million ounces annual silver output at Morocco’s Zgounder New plant lifts production from 1.65 million ounces in...
Nigeria’s parliament intervenes in Dangote refinery, fuel import dispute Lawmakers probe regulator over import licences, pricing policies Case...
Awalé Resources plans C$8 million Odienné gold exploration investment Drilling aims to deliver maiden mineral resource estimate in 2026 Project backed...
Most Read
01

AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...

From Mobile Data to Farm Loans: How AI Is Expanding Rural Credit in Africa
02

Investment bank BCID-AES established  in Bamako Bank aims to fund infrastructure, agricultur...

Sahel Alliance Establishes Investment Bank, Key Financing Decisions Pending
03

This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...

Weekly Health Update | Africa Steps Up Essential Medicines Strategy, Despite Outbreaks, Funding Gaps
04

Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...

$138 Million Standard Bank Facility to Power Safaricom's Ethiopia Business Expansion
05

BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI. ...

BNP Paribas Enters Exclusive Talks to Sell BMCI Stake to Holmarcom
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.