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Gem Diamonds Digs Up 114ct. Yellow
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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...
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Mining
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Dec 10, 2019
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Rapaport News
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Gem Diamonds Firm on No-Dividend Policy
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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...
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Mining
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Dec 01, 2019
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Rapaport News
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Letšeng Yields Two Diamonds Above 100ct.
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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...
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Mining
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Nov 24, 2019
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Rapaport News
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Gem Diamonds Lowers Full-Year Outlook
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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...
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Mining
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Nov 06, 2019
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Rapaport News
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Letšeng Yields 161ct. Rough
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Gem Diamonds has recovered a diamond weighing 161carats from its Letšeng mine in Lesotho. The miner found the “high-quality” white, type IIa stone onOctober 28, it said. Including this rough, Gem Diamonds has...
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Mining
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Oct 29, 2019
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Rapaport News
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Lesotho Renews Letšeng Lease
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Gem Diamonds has obtained a 10-year lease to continue miningat the lucrative Letšeng deposit in Lesotho, but will haveto pay a larger proportion of its sales proceeds to the government. The southern African kingdom has also...
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Mining
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Oct 06, 2019
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Rapaport News
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Gem Diamonds Unearths 127ct. Rough
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Gem Diamonds has recovered a diamond weighing 127 caratsfrom its Letšeng mine in Lesotho. The miner found the D-color, type II stone on September 11,it said Monday. The diamond is the fourth white stone of that...
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Mining
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Sep 18, 2019
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Rapaport News
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Drop in Large Stones Dents Gem Diamonds
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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...
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Mining
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Sep 05, 2019
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Rapaport News
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Letšeng Mine Yields 114ct. Yellow
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Gem Diamonds has recovered its third yellow diamond over 100carats this year, following a two-year dearth of stones in that hue and size. The miner found the 114.2-carat rough on August 22 at itsLetšeng mine in Lesotho,...
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Mining
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Aug 26, 2019
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Rapaport News
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Graff Reveals Polished Lesotho Pink
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Graff has unveiled the polished pink diamond it cut from the13.33-carat rough it purchased from Gem Diamonds in March. The jeweler set the pear-shaped, 5.63-carat, fancy-vivid-purplish-pinkstone in a rose-gold ring. Two pear-shaped shoulder stones, from...
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Polished Markets
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Aug 25, 2019
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Rapaport News
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Slow Market Dents Gem Diamonds Results
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Revenue at Gem Diamonds fell in the first half of the yearamid weakness in the market. Sales of rough diamonds from the Letšeng mine in Lesotho plunged 44% to $94.5 million by value, and dropped10% to 55,714 carats by volume,...
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Mining
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Aug 18, 2019
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Rapaport News
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Letšeng Yields 124ct. Rough
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Gem Diamonds has recovered a diamond weighing 123.5carats, its third white stone over 100 carats this year, and its second thismonth. It found the high-quality, type II stone at its Letšeng minein Lesotho on July...
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Mining
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Jul 23, 2019
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Rapaport News
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Gem Diamonds Unearths 140ct. Rough
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Gem Diamonds has recovered a white diamond weighing 140carats, the second over 100 carats it has reported this year. It found the high-quality stone on July 6 at its Letšeng mine in Lesotho, the company said Monday.In...
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Mining
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Jul 16, 2019
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Rapaport News
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Why the Market for Large Diamonds Is in Free Fall
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As the who’s who in the glitzy world of high-valuediamond auctions gathered in Geneva in May, there was an understated tone tothis year’s pilgrimage to the Swiss city. While Sotheby’s and Christie’s playedup their offerings of magnificent jewels,...
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Polished Markets
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Jul 02, 2019
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Joshua Freedman
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Ex-Letšeng CEO Joins Gem Diamonds Board
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Gem Diamonds has appointed Mazvi Maharasoa, the former head of itsLetšeng mining operation in Lesotho, as a non-executive director for the group,it reported Monday. Maharasoa has more than 20 years of senior-management experience,including at Letšeng Diamonds, where...
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Mining
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Jul 01, 2019
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Rapaport News
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Gem Diamonds Unearths 135ct. Yellow
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Gem Diamonds has recovered a 135-carat yellow at its Letšengmine in Lesotho, the third significant colored-diamond discovery at the depositthis year. The company retrieved the high-quality, type I stone on June21, three months after the mine...
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Mining
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Jun 25, 2019
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Rapaport News
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Gem Diamonds Offloads Ghaghoo Mine
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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...
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Mining
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Jun 20, 2019
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Rapaport News
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Large-Stone Recoveries Fall at Gem Diamonds
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Gem Diamonds’ revenue faltered during the first quarter, as it recovered fewer large diamonds from its Letšeng mine. Sales plunged 51% to $51.9 million for the three months ending March 31, as the average...
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Mining
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May 12, 2019
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Rapaport News
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Graff Adds 13ct. Lesotho Pink to Portfolio
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Luxury jeweler Graff is preparing to cut and polish the exceptional 13.33-carat Lesotho Pink that sold for $8.8 million in February. The company revealed this week that it bought the stone from Gem Diamonds...
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Rough Markets
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Mar 25, 2019
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Rapaport News
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Gem Diamonds Unearths 161ct. Rough
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Gem Diamonds has recovered a 161-carat rough stone, the first over 100 carats it has reported this year. It found the high-quality, white, type IIa diamond on March 21at its Letšeng mine in Lesotho, the...
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Mining
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Mar 24, 2019
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Rapaport News
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