Production At Letseng Strong Again In Q3, Reports Gem Diamonds

(IDEX Online News) – A continuing strong operational performance at its Letšeng mine in Lesotho as well as the opening of the Ghaghoo mine in Botswana were the standout features of the third quarter of 2014, Gem Diamonds reported in an interim statement.

In addition, the two Letšeng tenders conducted during the period saw an improvement in the dollar per carat prices achieved when compared to the prior quarter, the firm said in a statement.

At Letšeng, 28,365 carats were recovered in the third quarter from 28,623 carats in the previous quarter.

There was an average value of $2,603 per carat from $2,582 per carat in the second quarter.

At the Ghaghoo mine, officially opened by President Ian Khama in September, development is progressing in the first four production tunnels on Level 1. Work is continuing with minor refinements to the treatment plant in readiness for full production.

The firm reported that 4,028 carats were recovered as at the end of the period, with the first sale now planned for February 2015 to coincide with the first Letšeng sale in 2015.