Gem Diamonds: Second +100-cts Stone in Two Weeks
September 23, 24(IDEX Online) - Gem Diamonds today (23 September) announced its second +100-cts diamond in two weeks.
The UK-based miner says it recovered a 212.91 carat Type II white diamond at its Letseng mine, in Lesotho, on 19 September. It follows the recovery of a 126.21 carat Type II stone on 6 September.
The latest recovery is the 13th +100-cts diamond so far this year. Historically the mine has averaged eight such stones per year, but lin 2023 it recovered only five.
Gem Diamonds last week announced increased revenues of $78m for H1 2024, buoyed by its increased recovery of +100-cts stones. It said it was increasing its production guidance for the year.
Letseng - 70 per cent owned by Gem and 30 per cent by the Lesotho government - is the highest dollar per carat kimberlite diamond mine in the world.
Pic of the 212.91 carat stone courtesy Gem Diamonds.