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Gem Diamonds 150
Letšeng Yields Two More Large Stones
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...
Mining Sep 21, 2020 Rapaport News
Lucapa Mothae 150
Lucapa to Sell Mothae Rough Privately
Lucapa Diamond Company will sell rough from its Mothae mine in Lesotho directly to diamantaires through private partnerships, allowing it to secure higher prices for its production, it said Wednesday.The new sales channel was approved...
Mining Sep 09, 2020 Leah Meirovich
Gem Diamonds 143ct 150
Gem Diamonds Continues Large-Stone Streak
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...
Mining Sep 08, 2020 Rapaport News
Gem Diamonds
Gem Diamonds Incurs First-Half Loss
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...
Mining Sep 06, 2020 Rapaport News
Gem Diamonds 233 150
Letšeng Mine Produces 233ct. Rough
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...
Mining Sep 01, 2020 Rapaport News
442 ct Diamond
Letšeng Yields 442ct. Diamond
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,...
Mining Aug 23, 2020 Rapaport News
Lulo parcel
Lucapa Seals Deal to Defer Loan Repayments
Lucapa Diamond Company, owner of the Lulo mine in Angola and Mothae in Lesotho, has restructured its debt, allowing it more freedom to focus on navigating the weak diamond market. “The refinancing arrangements will give Lucapa...
Mining Aug 16, 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
Petra Finsch mine
South Africa, Lesotho Mines Set for Shutdown
Petra Diamonds, Gem Diamonds, Firestone Diamonds and Lucapa Diamond Company are suspending operations at their mines in South Africa and Lesotho due to government measures to curb the spread of the coronavirus.South Africa has introduced...
Mining Mar 25, 2020 Rapaport News
Firestone
Firestone Forecasts Weak Rough Pricing
Firestone Diamonds gave a cautious outlook for the coming year, expecting continued sluggish market conditions to impact rough prices. “From a diamond-pricing perspective, [2019] was a tough year, particularly for the smaller, lower-value goods,...
Mining Dec 22, 2019 Rapaport News
Lucapa
Lucapa Tender Yields $10M
Lucapa Diamond Company earned $10.4 million fromits latest sale of rough stones, bringing its total for the year to date to$45.9 million. The miner sold 5,469 carats from its Lulo mine inAngola...
Mining Oct 16, 2019 Rapaport News
Letseng diamonds
Lesotho Renews Letšeng Lease
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...
Mining Oct 06, 2019 Rapaport News
Firestone
Small-Stone Slump Hits Firestone Revenue
Firestone Diamonds saw a decline in sales during its fiscal fourth quarter due to a drop in demand for small, lower-value diamonds that make up the bulk of its supply. The company reported sales of $12.7 million for...
Mining Jul 29, 2019 Rapaport News
Firestone
Firestone Finds Its Biggest Fancy Yellow
Firestone Diamonds has recovered a 54-carat, intense-fancy-yellowrough diamond at its Liqhobong mine in Lesotho, it reported Monday. The sawable stone, the largest of its color Firestone has unearthed, will go on sale at the company’s nexttender, which is due...
Mining Jul 08, 2019 Rapaport News
Rough diamonds
Global Diamond Production Value Rises
Global rough-diamond output grew 2% to $14.47 billion lastyear, reflecting higher production in Botswana, according to data the KimberleyProcess (KP) released last week.The average price increased 4% to $97 per carat, outweighinga 2% decline in production volume to 148.4...
Mining Jul 07, 2019 Rapaport News
Firestone Liqhobong
Firestone Gets Bank Waiver After Prices Slide
ABSA Bank has granted Firestone Diamonds a waiver after adrop in small-diamond prices put the miner at risk of breaching its loan covenants. The terms of Firestone’s $82.4 million loan from ABSA included assumptions about...
Mining Jul 02, 2019 Rapaport News
Mazvi Maharasoa
Ex-Letšeng CEO Joins Gem Diamonds Board
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...
Mining Jul 01, 2019 Rapaport News
Lucapa tender
Lucapa’s Mothae Stones Fetch $3.5M
Lucapa Diamond Company garnered $3.5 million at the secondtender of diamonds from its Mothae mine in Lesotho, with stones selling for upto $26,000 per carat, it said Wednesday. The miner sold 7,008 carats of rough...
Mining May 29, 2019 Rapaport News
Lucapa
Lucapa Mine Yields Its Largest Diamond
Lucapa Diamond Company has unearthed a 126-carat,gem-quality rough from its Mothae mine in Lesotho, it said Thursday. The stone is the largest recovered from the deposit sincecommercial production began in January, and the first diamond...
Mining May 23, 2019 Rapaport News
Firestone Diamonds
Rainy Season Dampens Firestone Output
Output at Firestone Diamonds slipped in the third fiscal quarteras the company processed ore from a lower-grade portion of the mine. Production dropped 19% to 155,206 carats at the company’sLiqhobong mine in Lesotho in the three months ending...
Mining Apr 29, 2019 Rapaport News
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