Gem Diamonds: More +100-cts than all of 2023
May 29, 24
(IDEX Online) - Gem Diamonds today (29 May) announced the recovery of its sixth +100-cts diamond this year from its Letseng mine, in Lesotho.
The UK-based miner has now recovered more +100-cts gems in the first five months of this year than it did during the whole of 2023.
The 212.49-cts Type II white diamond, recovered yesterday (28 May) comes after Gem announced diamonds weighing 118.74 carat and 169.15 carats within two weeks of each other in April. The biggest recovery of the year so far was a 295-carat stone in January.
Letseng - 70 per cent owned by Gem and 30 per cent by the Lesotho government - is the highest dollar per carat kimberlite diamond mine in the world. Its long-term average is eight +100-cts a year.
In February Gem said total sales for 2023 were down 26 per cent to $139.4m, and the average per carat price was down 24 per cent to $1,334.
Pic courtesy Gem Diamonds