Diamond firm turns losses into profits

Dwyka Diamonds Limited has announced after-tax profits of A$1.14m (€696,109) for the half year ended December 2003, compared to losses of A$14,233,000 (€8.69m) over the corresponding time in 2003.

This result reflects Dwyka’s success in restructuring its South African interests, refocusing its Nooitgedacht alluvial mine on low-cost, high-grade mining and significantly cutting corporate and administrative costs.