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Lucapa Diamond Company faces financial collapse, joining Petra Diamonds amid industry-wide struggles.
Lucapa Diamond Company, an Australian miner, has been placed under voluntary administration due to financial struggles, including significant losses and a 95% drop in share value over five years.
This follows Petra Diamonds' cash crunch and threat of defaulting on a $273 million bond.
Both companies are facing challenges from falling diamond prices, excess supply, and competition from lab-grown diamonds.
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Lucapa Diamond Company se enfrenta al colapso financiero, uniéndose a Petra Diamonds en medio de luchas en toda la industria.