UK s Gem Diamonds FY Pretax Profit Nearly Halves On Botswana Mine...

March 15 (Reuters) - Gem Diamonds Ltd reported on Wednesday a 47 percent fall in its full-year pretax profit, hurt by an impairment charge after it mothballed the Ghaghoo mine in Botswana due to a fall in diamond prices.

The company recorded an impairment provision of $176.5 million after its move last month to place the Ghaghoo mine under care and maintenance with immediate effect.

gem riverside quận 2 Diamonds, which mines diamonds from the Letseng mine in Lesotho and the Ghaghoo mine in Botswana, said its full-year pretax profit fell to $52.4 million from $99 million, a year earlier. If you liked this article and you also would like to be given more info relating to du an GemRiverside kindly visit our own web-page. (Reporting by Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri)