Canadian miner Lucara Diamonds is optimistic about the diamond industry’s performance this year, as the company plans to expand its Karowe Mine in Botswana.
“The diamond industry begins 2021 with a healthier supply-demand balance than it has had at any stage in the past five years,” said President and Chief Executive Officer of Lucara Diamonds, Eira Thomas in a statement issued on the Botswana Stock Exchange on Tuesday.
He said supply curtailments and a pickup in consumer demand are expected to support a continuation of a stable, positive price trend in both the rough and polished markets.
“Longer-term fundamentals are expected to remain strong, with the lack of new projects in the pipeline and the expected increase in demand from growth markets, particularly in China, due to rising wealth levels and consumerism,” said Thomas. Enditem