Gem Diamonds sees prices strengthening by mid-2012

Global economic uncertainty is still likely to cause volatility in the rough diamond market in the first half of 2012, but prices should improve in the second half, the chairperson of London-listed Gem Diamonds said on Tuesday. Roger Davis said...

Rough diamond prices down on economic uncertainty

Rough diamond prices were lower in the final months of 2011, as economic uncertainty, caused by the eurozone crisis, continued to take its toll. London-listed Gem Diamonds reported on Thursday that the average value of its fourth-quarter Letšeng...

$280m Letšeng expansion receives board approval

The board of Gem Diamonds has approved a $280-million expansion project to double the output of its Letšeng mine in Lesotho. The expansion, dubbed Project Kholo, would start in January and would ramp up to full production by July 2014, the...

Letšeng sales strong despite lower rough diamond prices – Gem Diamonds

London-listed Gem Diamonds has performed relatively well in the third quarter, despite prices for rough diamonds, especially lower-quality diamonds, softening from the peaks achieved in July, CEO Clifford Elphick said on Wednesday. Gem Diamonds...

Gem Diamonds sells 550-ct Letšeng Star for $16.5m

London-listed Gem Diamonds sold the 550-ct diamond discovered at Letšeng in Lesotho for $16.5-million, it said on Monday. The Letšeng Star, a type IIa (no impurities with high thermal conductivity), D colour (colourless) gem diamond, ranks as...

Gem says volatility clouds outlook, but notes tight supply conditions

Record high rough diamond prices and positive supply and demand dynamics resulted in international diamond producer Gem Diamonds’ revenue increasing by 89% and earnings before interest, tax, depreciation and amortisation (Ebitda) surging to 489%...

Gem Diamonds sees record prices in H1

London-listed Gem Diamonds said on Monday that it had received record prices for rough diamonds in the first half of 2011, driven by strong supply-demand fundamentals. CEO Clifford Elphick said that supply-demand fundamentals for rough diamonds...

Gope kimberlite project, Botswana

The Gope diamond deposit, which comprises an estimated resource of 20-million carats, is planned to produce up to one-million carats a year.

Timing not right for Lucara merger - analyst

While it would make sense for Gem Diamonds and Lucara to merge, now would not be the best time for Lucara Diamond Corp’s shareholders, an analyst said on Monday. Lucara responded to media speculation on a possible tie-up by saying that it was...

18/03/2011 (On-The-Air)

Investors are planning to plough R4-billion into a new coal mine in the impoverished Limpopo; London investors have approved a multi-billion rand capital expenditure on Southern African diamond projects, one a brand new mine and explorers are...

Gem Diamonds achieves record fourth-quarter prices

LSE-listed Gem Diamonds has achieved record diamond prices in the December quarter for stones from its Lesotho and Australian mines. The Letšeng mine, in Lesotho, achieved an average quarterly price of $3 291/ct, compared with $1 680/ct in the...

Gem Diamonds awarded licence to mine in Botswana

London-listed Gem Diamonds on Tuesday announced that it had been awarded a mining licence for its Gope diamond project in Botswana. CEO Clifford Elphick said that the granting of the mining licence was the first step towards the development of...