Thanks mate, some good info in that.
Shows some things that LOM will need to watch out for.
Still if that is their operating costs, they are getting some nice premium on their diamonds!
"...Management noted in Catoca’s recently published annual report that implemented reforms to Angola’s tax system, combined with the new requirement that the company conduct all transactions with locals in kwanza, the national currency, instead of the U.S. dollar, hurt the company’s cost structure. In addition, the company stated that employee salary adjustments, a shift toward mining harder diamond-bearing ore and increased waste stripping raised operating costs. Consequently, the unit cost to mine a cubic meter of ore rose 5 percent to $20.87 during the year..."
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