Aug 1 Namakwa Diamonds Ltd lowered the
production forecast for its key mine in the southern African
country of Lesotho for the second time, citing unspecified
The company, which has a 62.5 percent stake in the Kao
kimberlite mine, cut its 2012 production forecast to 120,000
carats from 150,000 carats.
Namakwa, which started commercial production from Kao mine
in March, had cut production targets in May.
Chief Executive Theo Botoulas started a technical review of
all operations, with primary focus on the Kao mine, after his
appointment last month.
Namakwa shares were down 8 percent at 3.41 pence on the
London Stock Exchange on Wednesday.