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Lucapa Puts Lesotho Mine on Lockdown
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Lucapa Diamond Company will temporarily close its Mothae mine in Lesotho during a 14-day nationwide lockdown.Starting Thursday, the company will put the deposit on care and maintenance for two weeks to ensure the health...
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Mining
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Jan 14, 2021
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Leah Meirovich
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Gem Diamonds Unearths 147ct. Rough
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Gem Diamonds received a New Year’s surprise, retrieving a 146.9-carat rough diamond from its Letšeng mine in Lesotho.The miner found the high-quality, type II diamond on January 7, it said last week. The stone is the first 100-carat-plus...
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Mining
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Jan 11, 2021
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Rapaport News
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The Most Buzzworthy Diamonds of 2020
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Amid a challenging year for the industry, diamonds proved the coronavirus pandemic couldn’t dampen their appeal. Several stones made headlines, set records, exceeded expectations, or simply showed their sellers the money. Most...
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Polished Markets
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Dec 30, 2020
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Leah Meirovich
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Gem Diamonds Unearths 179ct. Rough
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Gem Diamonds has recovered a 179-carat rough diamond from its Letšeng mine in Lesotho.The miner found the high-quality, type I diamond on Thanksgiving Day, it said last week. The stone is the 16th diamond over 100...
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Mining
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Nov 29, 2020
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Rapaport News
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Letšeng Yields 14ct. Pink Diamond
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Gem Diamonds has recovered a 14.09-carat pink diamond from its Letšeng mine in Lesotho.The miner unearthed the “top-quality” type II stone from the deposit on November 24, it said Wednesday. The discovery comes after the...
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Mining
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Nov 26, 2020
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Rapaport News
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Letšeng Prices Exceed Pre-Pandemic Levels
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Gem Diamonds’ sales rose sharply in the third quarter as rough prices from its lucrative Letšeng mine in Lesotho topped pre-coronavirus levels amid a recovery in the large-stone market.Revenue grew to $60.5 million in the three months...
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Rough Markets
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Oct 28, 2020
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Rapaport News
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Letšeng Yields Two More Large Stones
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Gem Diamonds has recovered an additional two large, high-quality diamonds from its Letšeng mine in Lesotho.An “exceptional” quality, 166-carat, type II diamond was unearthed last week, the same day the company found a yellow...
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Mining
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Sep 21, 2020
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Rapaport News
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Gem Diamonds Continues Large-Stone Streak
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Gem Diamonds has recovered two large, high-quality diamonds from its Letšeng mine in Lesotho, the company said this week.A 162-carat white diamond was unearthed on September 7, while a 143-carat, type II stone was discovered...
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Mining
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Sep 08, 2020
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Rapaport News
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Gem Diamonds Incurs First-Half Loss
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Gem Diamonds fell into the red in the first half of 2020 as the coronavirus crisis froze the rough market and restricted the company’s sales.The net loss of $113,000 — compared with a $9.7 million profit...
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Mining
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Sep 06, 2020
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Rapaport News
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Letšeng Mine Produces 233ct. Rough
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Gem Diamonds has unearthed a high-quality, 233-carat, type II diamond from its Letšeng mine in Lesotho, the company said TuesdayThe discovery is the fifth rough stone over 100 carats that Letšeng has yielded this...
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Mining
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Sep 01, 2020
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Rapaport News
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Letšeng Yields 442ct. Diamond
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Gem Diamonds has recovered a 442-carat, type II diamond from the Letšeng mine in Lesotho, claiming the stone ranks among the largest gem-quality rough discovered this year. “The recovery of this remarkable 442-carat diamond,...
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Mining
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Aug 23, 2020
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Rapaport News
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Mining Sell-Off Highlights Sector’s Woes
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Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
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Mining
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Aug 06, 2020
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Leah Meirovich
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Pandemic Punctures Sales at Letšeng Mine
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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...
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Mining
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Jul 30, 2020
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Rapaport News
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Letšeng Yields 163ct. Yellow Diamond
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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,...
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Mining
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Jun 25, 2020
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Rapaport News
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Gem Diamonds Notes Solid Rough Demand
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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...
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Rough Markets
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Jun 18, 2020
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Rapaport News
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Big-Stone Recoveries Return as Letšeng Reopens
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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...
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Mining
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May 05, 2020
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Rapaport News
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Gem Diamonds Restarts Letšeng Operations
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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...
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Mining
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Apr 26, 2020
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Rapaport News
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Heavy Debt Looms over Mining Shutdown
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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...
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Mining
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Apr 23, 2020
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Leah Meirovich
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Gem Diamonds Sales Drop in First Quarter
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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...
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Mining
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Apr 21, 2020
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Rapaport News
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Letšeng Average Price Drops 6% in 1Q
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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...
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Mining
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Apr 06, 2020
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Rapaport News
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