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

March 15 (Reuters) - Gemriverside 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. Here's more information in regards to GemRiverside take a look at our own web page. Gem 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. (Reporting by Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri)