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Topic

Gem appoints interim technical adviser as deputy CEO resigns

By: Simone Liedtke     28th June 2018 LSE-listed Gem Diamonds deputy CEO Johnny Velloza intends to leave the company as an executive on September 15. A search for his successor is under way, but in the interim, Gavin Beevers will join the company as technical adviser from July 1, during the handover period and beyond. 

Gem declares $18.3m in payments to Lesotho, Botswana governments

By: Simone Liedtke     19th June 2018 Gem Diamonds paid just over $18.3-million to the governments of Lesotho and Botswana for extractive activities completed in the financial year ended December 31, 2017. Of this amount, about $18.1-million was paid to the government of Lesotho, with the balance of $230 000 paid to the Botswana... 

Gem recovers 115 ct diamond from Letšeng

By: Anine Kilian     22nd May 2018 LSE-listed Gem Diamonds has recovered a 115 ct, top white colour Type IIa diamond from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.  This is the ninth diamond of over 100 ct recovered at the mine this year, already exceeding the total number of... 

Billionaire Beny Steinmetz is digging for diamonds again

By: Bloomberg     14th May 2018 Billionaire Beny Steinmetz is back to mining diamonds. The Koidu mine in Sierra Leone, controlled by the billionaire’s family trust, has started mining again after halting production for almost a year. It’s the latest step in a recovery for a business that’s spent much of the last few years in... 

Gem Diamonds appoints deputy CEO

By: Marleny Arnoldi     2nd May 2018 Diamond miner Gem Diamonds has appointed COO Johnny Velloza as deputy CEO with immediate effect.  

Gem lifts Q1 production, sales

By: Anine Kilian     26th April 2018 LSE-listed Gem Diamonds’ carat recoveries increased by 32% year-on-year to 33 526 ct for the three months ended March 31, compared with the 25 479 ct recovered in the first quarter of 2017. Carat recoveries also rose by 10% on the 30 560 ct recovered in the December 2017 quarter. 

First phase of Lesotho diamond mine project poised for commercial production in second half of 2018

By: Mia Breytenbach     20th April 2018 Angola- and Lesotho-focused diamond miner Lucapa Diamond Company believes that once the Mothae diamond mine, in Lesotho, enters into full production, the operation, paired with the company’s Lulo alluvial diamond mine, in Angola, will position it as one of few worldwide to have two mines... 

Letšeng mining lease to be extended – Gem 

By: Anine Kilian     19th April 2018 The Lesotho government has announced its intention to renew JSE-listed Gem Diamonds’ Letšeng mining lease until 2034. The mining lease may be further extended if necessary in relation to any underground development of the mine thereafter. 

Gem recovers 169 ct diamond at Letšeng

By: Reuters     14th March 2018 LSE-listed Gem Diamonds has recovered a 169 ct to white colour Type IIa diamond at its Letšeng mine, in Lesotho. This is the seventh diamond larger than 100 ct recover at the mine so far this year. 

Gem sells 910 ct Lesotho Legend for $40m

By: Megan van Wyngaardt     13th March 2018 The “exceptional quality” 910 ct D-colour Type IIa diamond recovered from LSE-listed Gem Diamonds’ Letšeng mine, in Lesotho, in January, achieved a price of $40-million on tender in Antwerp, on Monday.  Reflecting its significance, the diamond, which is the fifth-largest gem-quality diamond ever... 

Gem Diamonds recovers 152 ct diamond at Letšeng

By: Marleny Arnoldi     7th March 2018 Global diamond producer Gem Diamonds has recovered a 152 ct, top white colour Type IIa diamond from its 70%-owned Letšeng mine, in Lesotho.  

Gem upbeat about number of large diamonds being recovered at Letšeng

By: Simone Liedtke     2nd February 2018 LSE-listed Gem Diamonds' CEO Clifford Elphick is pleased that the improvement in the recovery of greater than 100 ct diamonds at its Letšeng mine, in Lesotho, has continued into this year. "This is largely attributable to the ongoing technical improvements made at the Letšeng mine," he said on... 

Gem Diamonds makes fourth 100-ct-plus discovery at Letšeng this year

By: Megan van Wyngaardt     22nd January 2018 LSE-listed Gem Diamonds on Monday reported that it has the recovered a 149 ct, D-colour Type IIa diamond, with excellent shape, from its 70%-owned Letšeng mine, in Lesotho. This is the fourth high-quality diamond of over 100 ct recovered so far this year, and follows closely upon the recovery of... 

Gem discovers 910 ct diamond

By: Anine Kilian     15th January 2018 LSE-listed Gem Diamonds has recovered a 910 ct, D colour Type IIa diamond from its Lesotho-based Letšeng mine. The diamond, the largest recovered from the mine, is believed to be the fifth-largest gem-quality diamond ever recovered. 

Gem Diamonds recovers two large diamonds at Letšeng

By: Anine Kilian     8th January 2018 LSE-listed Gem Diamonds has recovered two large high-quality D-colour, type IIa diamonds from its 70%-owned Letšeng mine in Lesotho. The recovered diamonds include a 117 ct and a 110 ct diamond. 

Lesotho mine delivers another high-value diamond

15th December 2017 Global diamond producer Gem Diamonds’ Letšeng diamond mine in Lesotho yielded a high-quality 202 ct Type IIa-D colour, the seventh diamond over 100 ct to be recovered this year. The announcement marks the seventh diamond of over 100 ct to be recovered in 2017 from Letšeng. The mine, it is... 

Gem in talks with new potential Ghaghoo buyers

By: Mia Breytenbach     12th December 2017 Aim-listed Gem Diamonds is in discussions with other parties who are interested in acquiring the Ghaghoo mine, in Botswana, after an offer from an undisclosed party to buy the mine was withdrawn. Gem on Tuesday informed shareholders that although the undisclosed party had made an offer in August... 

Mike Brown steps in as Gem Diamonds nonexecutive director

By: Dylan Slater     7th December 2017 Diamond producer Gem Diamonds is set to receive fresh blood as decade-sitting Gavin Beevers will not stand for re-election in 2018 as a nonexecutive director 

Gem unearths 202 ct diamond

By: Megan van Wyngaardt     23rd November 2017 LSE-listed Gem Diamonds has recovered a high-quality 202 ct, D-colour Type IIa diamond from its Letšeng mine, in Lesotho. This is the seventh diamond of over 100 ct to be recovered from Letšeng this year. Letšeng is believed to be the highest dollar per carat kimberlite diamond mine in the world. 

Lucapa and Equigold deepen relationship

By: Megan van Wyngaardt     21st November 2017 Private Singaporean company Equigold is further increasing its shareholding in Africa-focused Lucapa Diamond Company by converting the last two scheduled quarterly repayments, totalling $3.75-million, into Lucapa shares. The companies in October agreed to enter a $15-million loan facility, which... 

Announcing noteworthy diamond finds keeps market interest high – Paragon International

By: Henry Lazenby     10th November 2017 A review of 61 diamond finds over the past five years, which were significant enough to warrant press releases by the companies that mined them, shows that announcing the diamond finds publicly keeps market interest high, said diamond investment specialist Paragon International Wealth Management... 

Gem Diamonds reports increase in Q3 diamond sales

By: Anine Kilian     31st October 2017 Sales from Aim-listed Gem Diamonds’ Letšeng mine, in Lesotho, increased by 19% year-on-year to $48.1-million in the third quarter ended September 30. The company attributed this to improved demand for high-value rough diamonds, which benefited prices. 

‘Material, newsworthy’ diamond finds on the rise – analyst

By: Henry Lazenby     3rd October 2017 There has been a marked increase in the number of publicly reported special diamond finds in recent years, with 61 of 66 press-released diamond finds in the last nine years taking place in the last five years, noted independent diamond industry analyst and consultant Paul Zimnisky in a new report... 

Diamond stocks are crashing this year, but gem prices aren't

By: Bloomberg     2nd October 2017 It’s been a surprisingly ugly year for most diamond companies. Shares of small producers, mainly focused on mines in southern Africa and Canada, have tumbled more than 30 percent during the past year and each company seems to be embroiled in its own mess. 

Gem recovers 115 ct diamond at Letšeng

19th September 2017 LSE-listed Gem Diamonds has recovered a high-quality 115 ct, D colour Type IIa diamond from its Letšeng mine, in Lesotho.   This follows the recovery of five other diamonds of over 100 ct so far this year from the mine. 

Lesotho’s Letšeng mine recovers several 100-ct-plus diamonds, expects trend to continue

By: Ilan Solomons     15th September 2017 The Letšeng diamond mine, in Lesotho, recovered several diamonds larger than 100 ct during the first half of 2017, with LSE-listed diamond miner Gem Diamonds upbeat that this trend will continue for the remainder of the year. These gems include the 114.38 ct Type II, the 126 ct D-colour Type IIa... 

Lesotho’s Letšeng mine recovers several 100-ct-plus diamonds, expects trend to continue

By: Ilan Solomons     15th September 2017 The Letšeng diamond mine, in Lesotho, recovered several diamonds larger than 100 ct during the first half of 2017, with LSE-listed diamond miner Gem Diamonds upbeat that this trend will continue for the remainder of the year. These gems include the 114.38 ct Type II, 126 ct D-colour Type IIa,... 

Alrosa’s Ivanov appointed to Diamond Producers Association board

By: Creamer Media Reporter      4th September 2017 Russian mining giant Alrosa president Sergey Ivanov has been appointed to the board of the Diamond Producers Association (DPA). Founded in 2015, the DPA comprises seven leading diamond producers and aims to promote the industry through the implementation of marketing initiatives.  

Gem mulls Ghaghoo buyout offer; H1 revenues decrease

By: Creamer Media Reporter      17th August 2017 LSE-listed Gem Diamonds, which on Thursday reported lower revenue and earnings for the six months to June 30, is considering an offer from an undisclosed party that is interested in buying its Ghaghoo mine, in Botswana, which was placed on care and maintenance earlier this year. The company in... 

Gem encouraged by recovery of more 100 ct-plus diamonds at Letšeng

By: Creamer Media Reporter      25th July 2017 London-listed Gem Diamonds is encouraged by the improvement in the recovery of diamonds larger than 100 ct at its Letšeng mine, in Lesotho, during the first half of this year. It recovered four diamonds larger than 100 ct in the six months to June 30, and another in July. 

Gem Diamonds recovers 126 ct diamond from Letšeng

By: Natasha Odendaal     6th July 2017 LSE-listed Gem Diamonds on Thursday unveiled its latest recovery from its Letšeng mine, in Lesotho – a high-quality 126 ct, D-colour Type IIa diamond. This followed the recovery of a high-quality 104.73 ct D-colour Type IIa diamond and a 151.52 ct Type I yellow diamond in June, an exceptional... 

Gem Diamonds recovers two 100 ct plus diamonds from Letšeng

By: Creamer Media Reporter      12th June 2017 LSE-listed Gem Diamonds has recovered a high-quality 104.73 ct D-colour type IIa diamond and a 151.52 ct type I yellow diamond from it Letšeng diamond mine, in Lesotho. This followed the recovery of an exceptional 80.58 ct D-colour type IIa diamond in May, as well as the 98.42 ct and 114 ct... 

Lucapa secures A$19m to pay for Lesotho mine, advance Phase 1 development

By: Esmarie Swanepoel     26th May 2017 Diamond miner Lucapa Diamond Company has secured A$19-million in capital to fund the acquisition and development of the Mothae kimberlite diamond project, in Lesotho. The ASX-listed miner said on Friday that the funding package included a A$9.2-million underwriting agreement with Westar Capital... 

Govt continues to encourage investment beyond diamonds

By: Simone Liedtke     26th May 2017 Botswana's mining industry will see steady value growth as government continues its efforts to diversify away from the diamond sector, encouraging foreign investment, particularly in coal projects, says industry analyst BMI Research, a Fitch Group company. 

Gem Diamonds recovers 98 ct diamond at Letšeng

By: Megan van Wyngaardt     23rd May 2017 LSE-listed Gem Diamonds on Tuesday reported recovering a 98.42 ct high-quality D-colour Type II diamond at its 70%-owned Letšeng mine, in Lesotho. CEO Clifford Elphick commented that it had recovered 25 479 ct of diamonds at Letšeng at a grade of 1.53 carats per hundred tonnes (cpht), against an... 

Dust-suppression specialist geared for growth in Africa

By: Simone Liedtke     12th May 2017 Environmental management company I-CAT Environmental Solutions continues to grow its market share in dust-suppression management and solutions, and intends to increase its market share in Africa this year. 

Gem Diamonds recovers 80 ct diamond from Letšeng

By: Natasha Odendaal     4th May 2017 London-listed Gem Diamonds has recovered a high-quality 80 ct, D colour Type II diamond at its Letšeng mine, in Lesotho. This follows less than a month after the April 7 recovery of a 114 ct diamond from the mine. 

Six new prospecting licences awarded to Botswana Diamonds

By: Martin Creamer     25th April 2017 London Aim-listed Botswana Diamonds on Tuesday announced that its joint venture (JV) with the large Russian diamond company, Alrosa, had been awarded of six new prospecting licences in Botswana.   Four are in the Central Kalahari Game Reserve (CKGR) and two are in the Orapa kimberlite province... 

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