{"id":1478,"date":"2024-12-11T17:06:15","date_gmt":"2024-12-11T17:06:15","guid":{"rendered":"https:\/\/shivdiamond.hozosmedia.com\/?p=1478"},"modified":"2024-12-11T17:06:16","modified_gmt":"2024-12-11T17:06:16","slug":"hb-deal-boosts-lucara-diamond-sales-duplicated","status":"publish","type":"post","link":"https:\/\/shivdiamond.hozosmedia.com\/?p=1478","title":{"rendered":"HB Deal Boosts Lucara Diamond Sales &#8211; [Duplicated]"},"content":{"rendered":"<blockquote>\n<p>Sales and earnings at Lucara Diamond Corp.<span style=\"font-size: revert; color: initial;\">rose in the second quarter as its supply deal with HB and focus on high-value stones helped the miner weather the global market\u2019s turbulence.\u00a0<\/span><\/p>\n<\/blockquote>\n\n\n<p>Revenue from the company\u2019s lucrative Karowe mine in Botswana\u00a0<a href=\"https:\/\/lucaradiamond.com\/site\/assets\/files\/63071\/luc_q2_2024_fs_mda_combined_final.pdf\">grew<\/a>\u00a07% year on year to $41.3 million for the three months that ended June 30, management reported Friday. Net profit more than doubled to $11.4 million from $5 million a year earlier.\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/rapaport.com\/news\/large-stone-slowdown-dents-lucara-diamond-corp-revenue\/\">Lucara<\/a>\u2019s arrangement with Antwerp-based manufacturer HB, which is contracted to buy all stones of 10.8 carats or larger, drove the overall increase. Sales from that agreement jumped 15% year on year to $29.5 million, the company reported.&nbsp;<\/p>\n\n\n\n<p>The number of 10.8-carat or larger diamonds the company recovered during the quarter increased 27% year on year to 206 stones from 162 a year earlier.<\/p>\n\n\n\n<p>Revenue from Lucara\u2019s Clara online platform dropped 15% to $2.5 million. Tender sales dipped 6% to $9.2 million.&nbsp;<\/p>\n\n\n\n<p>\u201cIn the face of a challenging diamond market, Lucara\u2019s unique production profile sets us apart,\u201d commented company CEO William Lamb. \u201cOur Karowe mine\u2019s consistent delivery of large, high-quality diamonds provides a natural hedge against market volatility. These exceptional stones, coupled with our innovative sales strategies, allow us to navigate current market conditions effectively.\u201d&nbsp;<\/p>\n\n\n\n<p>Sales for the first half of 2024 gained 1% year on year to $80.8 million, with net profit down 43% at $3.4 million.&nbsp;<\/p>\n\n\n\n<p><em>Update, August 14, 2024: Extra information about the impact of special stones on Lucara\u2019s revenue has been added to this article.<\/em><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p class=\"tx-excerpt\">Sales and earnings at Lucara Diamond Corp.rose in the second quarter as its supply deal with HB and focus on high-value stones helped","protected":false},"author":1,"featured_media":1470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,3],"tags":[],"class_list":["post-1478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-news"],"_links":{"self":[{"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/1478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1478"}],"version-history":[{"count":1,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/1478\/revisions"}],"predecessor-version":[{"id":1479,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/posts\/1478\/revisions\/1479"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=\/wp\/v2\/media\/1470"}],"wp:attachment":[{"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shivdiamond.hozosmedia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}