Lucara’s Production and Revenue Up in Q3 2021
Lucara Diamond, which operates the Karowe Mine in Botswana, produced 97,412 carats of diamonds in the third quarter of the year (ended September 30) compared with 88,909 carats in Q3 2020, Rough & Polished reports.
Production included 212 “special” diamonds weighing more than 10.8 carats each, as well as four high quality pink diamonds recovered from the mine, and a 393.5-carat high quality gem unearthed during the same period. During Q3, Lucara raked in $72.7 million in revenue, compared with $41.3 million in Q3 2020 and $45.9 million in Q2 2021. Lucara’s net income totaled $12.8 million for the third quarter, compared with a loss of $5.4 million in the third quarter of 2020.
CEO Eira Thomas commented: “Strong production, including a high volume of ‘specials’, combined with our innovative and optimised approach to sales of rough and polished diamonds into a strengthening market for diamond jewellery, has delivered a 57% increase in revenues quarter-on-quarter.”