Gem and Lucara end merger talks

Gem Diamonds is no longer in merger talks with the Canada-listed miner Lucara Diamond, it said today. “No agreement has been reached in its preliminary discussions with Lucara Diamond Corp and these discussions are no longer ongoing,” said Gem, which operates in Africa, Australia and Indonesia. Lucara, like Gem, has operations in Lesotho and Botswana. Gem said today that it “continues to monitor potential value enhancing opportunities outside of its current asset portfolio”.