Industry News by Nemesis

Botswana Diamonds Gains from Weak Pound

March 29, 2017

Botswana Diamonds recorded a profit in the first half of the fiscal year, benefiting from a drop in the value of the British pound, the exploration company said this week.

Total comprehensive income stood at $75,799 (GBP 61,000) in the six months that ended December 31, 2016, compared with a loss of $340,472 (GBP 274,000) during the same period a year earlier. 

The profit received a boost from a $244,792 (GBP 197,000) currency gain, as the Botswana pula appreciated 9% during the half-year against the British pound – the currency in which the miner reports. 

 

Source: Rapaport

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