Botswana Govt Diamond Act Change Will Not Hit Finances - Lucara

(IDEX Online) – Lucara Diamond Corp. said a reported proposed amendment to the Botswana Precious and Semi Precious Stones (Protection) Act regarding the Botswana government's right to purchase diamonds that are unusually large or have unusual features at market prices will not affect it financial position.

The bill as mentioned in a Reuters' article earlier this week states that "the price to be paid by government for a rough or uncut precious stone offered for sale by the producer shall be agreed by the parties in accordance with the current market price of the rough or uncut precious stone".

"Lucara 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," the firm said in a statement released on behalf of the Board by President and CEO William Lamb.