Lucara Diamond Corp. (“Lucara” or the “Company”) (LUC – TSX, LUC – BSE, LUC – Nasdaq Stockholm) is pleased to announce revenues of $295.5 million or $824 per carat and EBITDA of $185.4 million (all dollar amounts are in US Dollars unless otherwise indicated).
Revenue for the year was $295.5 million or
Kaiser also discusses the companies he is watching in the diamond space.
Did you miss VRIC this year? Check out the highlights here.
Taylor, who is CEO of Diamcor, discusses the factors that will influence diamond supply and demand this year.
By Jocelyn Aspa
Anglo American (LON:AAL) has announced the appointment of Bruce Cleaver as CEO of the De Beers Group following Philippe Meillier’s decision to step down after five years.
Mark Cutifani, CEO of Anglo American and Chairman of De Beers, said:
Together with our partners in De Beers, we congratulate Bruce Cleaver on his
Martin Rapaport, chairman of the Rapaport Group, released an article that praises De Beers’ decision to “reduc[e] rough diamond prices sufficiently to enable increased sales of rough diamonds and a resumption of diamond manufacturing activity.”
Speaking at De Beers’ first sight of 2016, Philippe Mellier, the company’s chief executive, said that while there have been some “encouraging signs” in the diamond market already this year, “the recovery in the sector remain[s] delicate.”
Writing for Rapaport, Avi Krawitz comments that a key diamond market theme for 2015 was “the return of generic advertising.” According to Krawitz, this trend brings with it the “promise of increased profitability for the diamond trade.”
The Southern Times reported that Debswana has announced plans to cease operations at the Damtshaa diamond mine. It will also scale down production at its Orapa No. 1 mine over the next three years.
2015 was difficult for the diamond market, but the diamond outlook for 2016 looks better. Experts Paul Zimnisky and Yaniv Marcus weigh in here.
Rapaport believes today’s low rough diamond prices are a problem and sees major diamond miners and banks as responsible.
Speaking to Mining Weekly, independent diamond analyst Paul Zimnisky said that Canadian diamond producers may be the best positioned to weather the current weakness in the diamond market.