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Gem Diamonds
Pandemic Punctures Sales at Letšeng Mine
Revenue at Gem Diamonds fell in the first half of the year amid a temporary shutdown of its mine and weak demand due to the coronavirus.Sales of rough diamonds from the Letšeng mine in Lesotho dropped 22% to $74...
Mining Jul 30, 2020 Rapaport News
Gem Diamonds 163 yellow 150
Letšeng Yields 163ct. Yellow Diamond
Gem Diamonds has recovered a 163-carat, type I yellow diamond at its Letšeng mine in Lesotho, the third over 100 carats the company has found this year.The unbroken stone, which the miner unearthed on Wednesday,...
Mining Jun 25, 2020 Rapaport News
Gem Diamonds Letseng
Gem Diamonds Notes Solid Rough Demand
Gem Diamonds reported a rise in the average selling price for the first half of 2020, noting that appetite for its goods had improved at a recent tender in Antwerp.“The results of the latest tender for Letšeng’s...
Rough Markets Jun 18, 2020 Rapaport News
Gem Diamonds
Big-Stone Recoveries Return as Letšeng Reopens
Gem Diamonds has recovered a number of large, high-quality stones at its Letšeng mine in Lesotho, all found in the first week after production resumed following the COVID-19 lockdown.They include a 60-carat, light-yellow, type I diamond, and...
Mining May 05, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Restarts Letšeng Operations
Gem Diamonds will recommence full operations at its Letšeng deposit in Lesotho after the government permitted the mining sector to reopen despite a national lockdown.The company will start production on Monday, implementing special health-and-safety measures...
Mining Apr 26, 2020 Rapaport News
Miners
Heavy Debt Looms over Mining Shutdown
A number of diamond-mining companies that have halted production during the COVID-19 crisis will find it difficult to resume operations amid their struggles with debt, analysts have predicted.The warning comes after several miners announced...
Mining Apr 23, 2020 Leah Meirovich
Gem Diamonds
Gem Diamonds Sales Drop in First Quarter
Gem Diamonds’ revenue slipped in the first quarter, as the coronavirus weighed on the average price of rough diamonds from its Letšeng mine in Lesotho. “Prices for Letšeng’s diamonds have been negatively impacted in March 2020...
Mining Apr 21, 2020 Rapaport News
Gem Diamonds
Letšeng Average Price Drops 6% in 1Q
Gem Diamonds’ average selling price fell 6% to $1,615 per carat in the first quarter compared with the previous three months, the company said Monday.The miner brought in $6.7 million from its second flexible...
Mining Apr 06, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Flexible Tender Fetches $12M
Gem Diamonds garnered $12.1 million from the sale of rough diamonds through its new flexible tender process.“The results of the initial round of the flexible tender sales process for a selection of Letšeng’s large diamonds...
Mining Apr 01, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Tender Prices Drop 18%
Prices at Gem Diamonds’ latest small-stone tender dropped 18% versus its previous sale in November due to the coronavirus pandemic and subsequent economic crisis, the company said Thursday.“The results of the Letšeng small-diamond tender...
Mining Mar 19, 2020 Rapaport News
Miners coronavirus
Production Continues as Miners Fight Virus Impact
Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
Mining Mar 19, 2020 Leah Meirovich
gem diamonds rough in tweezers 150 new
Gem Diamonds Profit Falls in 2019
Gem Diamonds’ profit dropped last year amid lower large-stone recoveries and a drop in the average price.Profit for the year fell 77% to $10.6 million, compared with $46.6 million the previous year, the...
Mining Mar 12, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Retrieves Another Five Big Stones
Gem Diamonds has recovered five large, high-quality stones at its Letšeng mine in Lesotho, continuing a strong first quarter for the company’s production.The company unearthed four white diamonds weighing 88, 56, 53 and 33 carats...
Mining Mar 08, 2020 Rapaport News
Gem Diamonds
Letšeng Mine Yields 114ct. Rough
Gem Diamonds has recovered a white diamond weighing 114 carats at its Letšeng mine in Lesotho, the second stone over 100 carats the miner has found this year, it said Tuesday.The company unearthed the...
Mining Mar 04, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Sees Sales Decline in 2019
A drop in the recovery of large stones and a decline in the average price achieved for rough from the Letšeng mine led to a decline in sales for Gem Diamonds in 2019.Proceeds fell 32% to $182.1 million, the miner...
Mining Feb 16, 2020 Rapaport News
Gem Diamonds 183 Carat 150
Gem Diamonds Unearths 183ct. Rough
Gem Diamonds has recovered a white diamond weighing 183 carats at its Letšeng mine in Lesotho, the first stone over 100 carats the miner has found this year.The company unearthed the type IIa,...
Mining Feb 04, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Digs Up 114ct. Yellow
Gem Diamonds has recovered a 114-carat yellow diamond at itsLetšeng mine in Lesotho, the fourth of that color above 100 carats this year. The miner found the type I stone on Monday, a week afterunearthing a 93.5-carat, high-quality...
Mining Dec 10, 2019 Rapaport News
Gem Diamonds
Gem Diamonds Firm on No-Dividend Policy
Nearly a quarter of Gem Diamonds’ shareholders voted againstreelecting CEO Clifford Elphick to the company’s board, in an effort to force approval of share buybacks and dividends. The board directors opposed implementing those measures because of the current...
Mining Dec 01, 2019 Rapaport News
Gem Diamonds
Letšeng Yields Two Diamonds Above 100ct.
Gem Diamonds has recovered two diamonds weighing more than100 carats from its Letšeng mine in Lesotho. The miner found a 120-carat, high-quality, white, type IIa diamond onNovember 20, and a 125-carat, low-quality stone...
Mining Nov 24, 2019 Rapaport News
Gem Diamonds
Gem Diamonds Lowers Full-Year Outlook
Gem Diamonds has reduced its sales guidance for the year, asa problem with its high-value satellite pipe has forced it to mine from thelower-value portion of its Letšeng mine in Lesotho. The miner now...
Mining Nov 06, 2019 Rapaport News
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