Lucara, Gem Merger Talks 'Not At Advance Stage'

(IDEX Online News) – Responding to recent speculation that it is in merger talks with Gem Diamonds, diamond miner Lucara Diamond Corp. said it is in regular discussions with many companies in the diamond sector, one of which is Gem Diamonds. "No discussions are at an advanced stage with any company," it added.

The talks with Gem and other companies are part of Lucara's strategy "to continuously review possible growth opportunities." Lucara added that it will advise the market if any preliminary discussions advance further.

Lucara’s two key assets are the AK6 diamond mine in Botswana and the Mothae diamond mine in Lesotho. This week it is tendering Mothae goods produced during the feasibility phase.