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Gem Diamonds
Drop in Large Stones Dents Gem Diamonds
Gem Diamonds’ profit fell in the first half of the year, asthe volume of large stones unearthed at its Letšeng mine in Lesotho hassignificantly declined from last year. Profit plunged 75% to $6.6 million for the...
Mining Sep 05, 2019 Rapaport News
Gem Diamonds
Gem Diamonds Offloads Ghaghoo Mine
Gem Diamonds has sold its Ghaghoo mine in Botswana for $5.4million, following a two-year search for a buyer. Pro Civil, a Botswana-based company, will acquire the asset, which has been on care and maintenance since...
Mining Jun 20, 2019 Rapaport News
Gem Diamonds Letseng
Large Stones Prove Profitable for Gem Diamonds
Gem Diamonds swung to a profit in the first half of theyear, boosted by the sale of large, high-quality stones from its Letšengmine in Lesotho. Profit was $24.2 million for the period ending June 30,versus a loss of $2.9...
Mining Sep 05, 2018 Rapaport News
Gem Diamonds 600
Letšeng Produces 101ct. Rough
Gem Diamonds has unearthed a 100.50-carat diamond from its Letšengmine in Lesotho, it said Friday. The white, type IIa stone is the 11th over 100 carats theminer has recovered from the asset so far this...
Mining Jul 29, 2018 Rapaport News
910ct. Stone Fuels Gem Diamonds Sales
Gem Diamonds’ revenue nearly tripled in the first quarteramid strong demand for its rough and the sale of the fifth-largest diamond inhistory. Revenue surged 174% year on year to $106.2 million for thethree months...
Mining Apr 26, 2018 Rapaport News
Ghaghoo mine Gem Diamonds
Gem Diamonds Ends Talks over Mine Sale
Gem Diamonds has terminated discussions with a potentialbuyer for its Ghaghoo mine in Botswana. The London-based company announced in August that it wasconsidering an offer from an unidentified party. However, those talks did notresult in an agreement, and...
Mining Dec 12, 2017 Rapaport News
Gem Diamonds large rough
Large-Stone Demand Boosts Letšeng Results
Sales from the high-value Letšeng mine rose sharply inthe third quarter as improved demand for high-value rough diamonds boosted prices, owner Gem Diamonds reported Tuesday.Letšeng sales grew 19% year on year to $48.1...
Mining Oct 31, 2017 Rapaport News
Ghaghoo mine Gem Diamonds
Gem Diamonds Mulls Ghaghoo Sale
Gem Diamonds is considering an offer for its Ghaghoo mine in Botswana after discontinuing the operation earlier in the year due to a slump in prices.“Shareholders are advised that an offer to acquire 100% of the Ghaghoo asset has been...
Mining Aug 17, 2017 Rapaport News
Botswana Diamonds Exploration
Alrosa Gets New Botswana Exploration Permits
The Botswana government has awarded six new prospecting licenses to Sunland Minerals, a diamond exploration partnership between Alrosa and Botswana Diamonds.The licenses are valid until March 2020, with four of them covering 3,135...
Mining Apr 26, 2017 Rapaport News
Clifford Elphick Gem Diamonds
Gem Diamonds Scraps Bonuses After Weak 2016
Gem Diamonds’ senior managers missed out on their performance-relatedpay last year, as the miner slid to a loss in 2016.Clifford Elphick, Michael Michael and GlennTurner – respectively the company’s chief executive officer, chief financialofficer and legal...
Mining Mar 15, 2017 Rapaport News
Gem Diamonds Puts Ghaghoo Mine on Hold
Gem Diamonds will stop production at the Ghaghoo mine inBotswana, effective immediately, due to a slump in prices, the company saidThursday.The miner has decided to place the asset on “care andmaintenance,” meaning it will put diamond recovery...
Mining Feb 16, 2017 Rapaport News
196ct Letseng
Letšeng Sales Fall as Large-Diamond Output Drops
Gem Diamonds said sales from its high-value Letšeng minefell 22 percent last year as the company extracted fewer large rough diamondsthan expected.Sales from the deposit in Lesotho slid to $184.6 million in2016, the miner...
Mining Feb 06, 2017 Rapaport News
Letseng Mine
Letšeng Prices Fall as Large Stone Supply Stumbles
The average selling price at the high-value Letšeng mine in Lesotho fell inthe third quarter because of lower sales of 100-carat-plus stones, owner Gem Diamonds said.The miner sold 37,990 carats from Letšeng for a total...
Mining Nov 10, 2016 Rapaport News
Letśeng Average Prices Slide
Gem Diamonds reported average prices at its Letśeng mine in Lesotho dropped 16 percent in the first half due to a shift in mining to lower-value but higher-grade areas. The price fell to $1,899 per carat from $2,264 a carat...
Mining Jul 19, 2016 Rapaport News
Gem Diamonds' Letšeng Sales Leap
Gem Diamonds reported revenue from its Letšeng mine inLesotho rose in the first three tenders of the year.Sales jumped13 percent to $87.8 million compared with the first three tenders last year.Volume sold surged...
Mining May 17, 2016 Rapaport News
Letseng Mine
Gem Diamonds’ 2015 Revenue -8% as Prices, Sales Dip
Gem Diamonds reported revenue dropped 8 percent to $249.5million last year as the average price of gems from the Letšeng mine in Lesothoslumped and rough carat sales slid. The average priceat Letšeng fell 9 percent and...
Mining Mar 16, 2016 Rapaport News
Letseng Mine
Gem Diamonds’ 4Q Letšeng Sales Decline as Prices Dip
Gem Diamonds sold $64.3 million worth of stones from itsLetšeng mine in Lesotho in the fourth quarter that ended December 31. Thefigure was 5 percent below the $67.7 million reported by the company a yearearlier as the...
Mining Feb 03, 2016 Rapaport News
Letseng Mine
Gem Diamonds’ Letšeng Sales +7%, Average Price -1%
Gem Diamonds' rough diamond sales advanced 7 percent to$65.6 million year on year in the third quarter that ended September 30, thecompany said. It sold 25,460 carats at its Letšeng mine in Lesotho, an increaseof 8 percent, and...
Mining Nov 11, 2015 Rapaport News
Gem Diamonds
Gem Diamonds' 1H Revenue Falls 28%
Gem Diamonds’ revenue declined 28 percent year on year to $106.3 million in the first half that ended on June 30 2015, hurt by reduced production and lower prices received for commercial-quality rough diamonds. The average price...
Mining Jul 30, 2015 Ronen Shnidman
Letseng Mine
Gem Diamonds Letšeng Sales -10% in 4Q
Gem Diamonds sales fell 10 percent year on year to $67.7 million from its high-value Letšeng mine in Lesotho in the fourth quarter that ended on December 31. The company noted a cautious market environment at the end...
Mining Jan 27, 2015 Avi Krawitz
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