Gem Diamonds Doubles its +100-cts Haul
August 28, 24
(IDEX Online) - Gem Diamonds has now recovered twice as many +100-cts diamond this year than during the whole of 2023.
The UK-based company today (28 August) announced a 129.71-carat Type II white diamond from its Letseng mine, in Lesotho.
It's the 10th +100-cts diamond of 2024. Historically the mine averages eight per year, but last year it recovered only five.
The spike in high-value recoveries has helped push up revenue at Gem. Earlier this month it reported a 9 per cent increase in its first half earnings to $77.9m.
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.
Pic courtesy Gem Diamonds, shows the 129.71-ct stone.