Lucara Diamond Corp
Karowe
TSX-listed Lucara Diamonds maintains proposed amendments to Botswana mining legislation will have no impact on its financial position.

The bill as mentioned in the article states that “the price to be paid by government for a rough or uncut precious stone offered for sale by the producer – in this case Lucara Diamonds – shall be agreed by the parties in accordance with the current market price of the rough or uncut precious stone.”

A proposed amendment to the Botswanan Precious and Semi Precious Stones (Protection) Act as described in the Reuters article released on September 18, 2017, regarding the Botswana government’s right to purchase diamonds that are unusually large or have unusual features at market prices, will have no impact on Lucara Diamonds’ financial position.

The company is in agreement with this policy as a way for both the government and the company to achieve sustainable revenue at market prices for the sale of its diamonds.

Feature image credit: Lucara Diamonds