Namakwa H1 Revenues $36.2 Million

Diamonds from Namakwa's South Africa west coast operations

Namakwa Diamonds Limited on Thursday reported revenues of $36.2 million in the first six months of its fiscal year. EBITDA totaled $1.24 million. The diamond resource company added that its mining division revenues reached $6.23 million, posting an EBITDA loss of $0.5 million.

“Namakwa Diamonds has made great strides to increase production and streamline its production profile with the acquisition of Kao in Lesotho and new concessions in Democratic Republic of Congo (DRC),” said Chief Executive Nico Kruger.

In the DRC, trial-mining production increased 29 percent to 23,249 carats compared to 18,011 in the second half of fiscal 2009. The goods sold at an average of $102 per carat.

The company has a portfolio of distinct diamond resource target areas within historically prospective geological environments in South Africa, Lesotho, the Democratic Republic of Congo and Namibia.