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Clifford Elphick

Clifford Elphick is CEO of London-listed Gem Diamonds, which owns and operates the Letšeng diamond mine in Lesotho, and chairperson of Aim-listed Zanaga Iron Ore Company (ZIOC), which is developing the Zanaga iron-ore project in Congo-Brazzaville. In his role at Gem Diamonds he has overseen the company through a prolonged downturn in the rough diamond market, driven partly by competition from synthetic diamonds, implementing cost-cutting measures including a 'business resilience programme' and structural changes to Letšeng's mine plan, as well as workforce retrenchments, to preserve the mine's long-term viability. He regularly comments on Gem Diamonds' half-year and annual results, discussing production volumes, pricing trends and the diamond market outlook. At ZIOC, Elphick has guided efforts to advance the large-scale Zanaga project toward a final investment decision, including a 2025 equity fundraise to buy back Glencore's shareholding, partnerships with Arise Integrated Industrial Platforms and Centrale Électrique du Congo on port and power infrastructure, and a proposed strategic investment from Red Arc Minerals. He is a potential beneficiary of a discretionary trust with an interest in Guava Minerals, a significant ZIOC shareholder. Elphick is a recurring figure in African mining coverage owing to his dual leadership of a diamond producer and an iron-ore developer, both navigating challenging commodity markets while pursuing cost discipline and strategic partnerships.

Clifford Elphick News


An image of the Letšeng mine
Gem Diamonds reports improved first-half financial performance
3rd September 2026 By: Tasneem Bulbulia

London-listed Gem Diamonds reported a significantly improved financial performance for the six months ended June 30, compared with the same period last year, with revenue having increased by 32% to... 


The Letšeng mine
Higher prices boost Gem Diamonds' first-half earnings, despite lower output
28th July 2026 By: Creamer Media Reporter

Despite a 12% year-on-year decrease in recovered carats to 41 695 ct for the first six months of this year, London-listed Gem Diamonds recorded a 33% year-on-year increase in sales value to... 


ZIOC provides update on strategic investment in iron ore project
ZIOC provides update on strategic investment in iron ore project
6th May 2026 By: Sabrina Jardim

Aim-listed Zanaga Iron Ore Company (ZIOC) has successfully completed the project development strategy programme for its Zanaga iron-ore project, in Congo-Brazzaville, which now includes the results... 


A white diamond from Letšeng mine
Gem Diamonds posts $104m attributable loss amid rough diamond market downturn
18th March 2026 By: Marleny Arnoldi

Like most diamond miners, London-listed Gem Diamonds has been experiencing marked weakness in the diamond market, which led to the company reporting a loss of $9.1-million before exceptional items... 


ZIOC chairperson Clifford Elphick
Zanaga executes share lock-in agreements with major shareholders
29th September 2025 By: Sabrina Jardim

Aim-listed Zanaga Iron Ore Company (ZIOC) has announced that, following a request from a potential investor engaged in ZIOC's strategic partner process, lock-in agreements have been signed between... 


The Letseng mine
Gem Diamonds swings to loss on $10.7m impairment
4th September 2025 By: Creamer Media Reporter

London-listed Gem Diamonds, which owns and operates the Letšeng mine, in Lesotho, has swung to an attributable loss of $11.7-million for the six months ended June 30, on the back of a $10.7-million... 


An image of Gem Diamonds CEO Clifford Elphick
Gem Diamonds weathers challenges, delivers solid full-year performance
13th March 2025 By: Tasneem Bulbulia

London-listed Gem Diamonds’ focus on cost containment, operational efficiencies and appropriate capital allocation yielded pleasing results for the financial year ended December 31, 2024, despite a... 


iron ore lump
Zanaga announces $21.5m equity fundraise to advance iron-ore project
3rd March 2025 By: Darren Parker

Aim-listed Zanaga Iron Ore Company has announced an equity fundraise for gross proceeds of $21.5-million, with the potential to upsize to $23-million, conducted by way of subscriptions to a group... 


An iamge of ZIOC chairperson Clifford Elphick
ZIOC signs power MoU for Congo-Brazzaville project
3rd February 2025 By: Tasneem Bulbulia

Aim-listed Zanaga Iron Ore Company (ZIOC) and its 100% subsidiary MPD Congo have  signed a memorandum of understanding (MoU) with Centrale Électrique du Congo (CEC) to evaluate potential solutions... 


ZIOC signs MoU with Arise for mineral export facility development
11th December 2024 By: Tasneem Bulbulia

Aim-listed Zanaga Iron Ore Company (ZIOC) has entered into a memorandum of understanding (MoU) with Arise Integrated Industrial Platforms to advance the development of the Zanaga iron-ore project’s... 


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pqt: 0.053s - ct: 0.096s - 195pq - 2rq
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