Karowe achieves 48% operating margins
Lucara's robust positioning in the diamond sector! In the report for Karowe Diamond Mine for the Q3, 2024, its’ Financial highlights suggested that, operating margins of 48% were achieved (Q3, 2023: 63%). Lower operating margins resulted from the decrease in revenue realized for the quarter. Operating cost per tonne processed was $27.34, a decrease of 5% compared to Q3, 2023 cost per tonne processed of $28.84. The continued impact of inflationary pressures, particularly labour, has been well managed by the operation. A strong U.S. dollar continues to offset a small increase in costs over the comparable period. During Q3, 2024, the Company invested $24.1 million into the Karowe Underground Project (UGP). William Lamb, President & CEO commented: The third quarter of 2024, again, proved to be transformative for Lucara, marked by two extraordinary discoveries that underscore our preeminent position in the exceptional stone segment of the diamond industry. The recovery of an unprec...