Gem Diamonds underlying core earnings rise

March 18 (Reuters) - Gem Diamonds Ltd's full-yearunderlying core earnings rose 18 percent benefiting from higherdiamond prices in 2013.

The company, which owns the Leteng mine in Lesotho and isdeveloping the Ghaghoo mine in Botswana, said operations in 2014had begun well and that it expected to bring Ghaghoo intoproduction in the second half of the year.

Underlying core earnings or earnings before interest, tax,depreciation and amortisation (EBITDA) increased to $77 millionfor the year ended Dec. 31 from $66 million a year earlier.Revenue grew 5 percent to $213 million.

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