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

March 15 (Reuters) - 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 chung cu Gem Riverside effect.

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. When you beloved this post as well as you would want to acquire details with regards to Shophouse Gem Riverside i implore you to visit our web page. (Reporting by Justin George Varghese in Bengaluru; Editing by Amrutha Gayathri)