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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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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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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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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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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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Gem Diamonds Flexible Tender Fetches $12M
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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...
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Mining
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Apr 01, 2020
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Rapaport News
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Gem Diamonds Tender Prices Drop 18%
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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...
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Mining
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Mar 19, 2020
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Rapaport News
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Production Continues as Miners Fight Virus Impact
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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...
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Mining
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Mar 19, 2020
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Leah Meirovich
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Gem Diamonds Profit Falls in 2019
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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...
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Mining
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Mar 12, 2020
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Rapaport News
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Gem Diamonds Retrieves Another Five Big Stones
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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...
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Mining
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Mar 08, 2020
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Rapaport News
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