Gem Diamonds says rough diamond prices on the rise

Rough diamond prices were expected to continue climbing “across the market” this year, LSE-listed Gem Diamonds said on Monday. The Clifford Elphick-led company said in an interim management statement that its price index showed increases in...

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...

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' Q3 revenue flat, Letšeng sales up

LSE-listed Gem Diamonds CEO Clifford Elphick on Thursday said that the company would continue to drive the growth plans at its Letšeng and Ellendale mines, despite the impact that the continued strength of the Lesotho loti and the Australian...

Gem agrees 25% price rise with Tiffany for yellow diamonds

LSE-listed Gem Diamonds subsidiary Kimberley Diamonds on Wednesday announced a 25% price agreement with Tiffany & Co.'s diamond sourcing and polishing subsidiary Laurelton. The company said in a statement that the price increase was agreed upon...

Gem Diamonds assessing growth opportunities – CEO

LSE-listed Gem Diamonds said on Tuesday that despite a sustained price recovery in diamond markets during the first six months of the year, its profit still dropped sharply, which it attributed to the impact of inflation and exchange rates. The...

Gem Diamonds sticks to FY target despite weaker interim output

LSE-listed Gem Diamonds was confident that it could meet its full-year targeted output at its 70% owned Letšeng mine, in Lesotho, despite production having dropped by 5% to 44 748 ct in the first half of this year. This was compared with the 47...

Gem eyes growth as rough diamond market improves

LSE-listed diamond-miner Gem Diamonds had weathered the downturn and was assessing opportunities to grow its business in light of the improvements seen in the rough diamond market, CEO Clifford Elphick said on Friday. In an update to...

Gem posts $3,3m interim profit, says diamond prices improved

London-listed diamond-miner Gem Diamonds was satisfied with the performance of its two operating mines, Letšeng, in Lesotho, and Ellendale, in Australia, with the group recording an attributable profit of $3,3-million in the six months ended June...

Gem Diamonds H1 sales down, sees prices stabilising

Global diamond producer Gem Diamonds has recovered 47 165 ct from the Letšeng mine, in Lesotho, during the first six months of 2009, a improvement of 6% on the corresponding period in 2008, the company said on Thursday. The London-listed miner...

Gem Diamonds says plans to beneficiate in Dubai, Mauritius on hold

London-listed diamond producer Gem Diamonds has placed plans to develop beneficiation facilities in Dubai and Mauritius on hold, owing to the economic downturn, it reported on Tuesday. Gem Diamonds is establishing a cutting and polishing facility...

Gem Diamonds puts Ellendale pipe on care-and-maintenance

LSE-listed diamond mining company Gem Diamonds will place the lower value E4 pipe, at its wholly-owned subsidiary Kimberley Diamond’s Elledale mine, in Western Australia, on care-and-maintenance. Mining at the pipe would be suspended...