Lucara secures $50m to complete Botswana diamond project

ucara Diamond Corp. has raised $50-million in debt to build its two gem projects in Botswana and Lesotho, the TSX V-listed junior said on Thursday. Lucara said it had concluded that the debenture, which matures at the end of 2013, provided the...

Gem Diamonds sells two Letšeng stones for $22,7m

LSE-listed Gem Diamonds has earned $22,7-million from the sale of two large diamonds discovered at its Letšeng mine, in Lesotho. At a special tender held in Antwerp, it sold a 184-ct diamond and a 196-ct diamond, which was recovered at the mine...

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 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 Diamonds remains ‘cautious’ ahead of Christmas season

Aim-listed Gem Diamonds remains “cautious” ahead of the Christmas season, despite the upward trend of retail demand, the company said on Monday. It said in a statement that cutting centre stocks remained high, primarily owing to lower US...

Letseng prices strong despite economic turmoil – Gem Diamonds

The diamond prices of Aim-listed Gem Diamonds’ flagship mine, Letseng, were higher in the final quarter of the year than the average of 2008, despite the global economic downturn, the company reported on Monday. Prices during the fourth quarter...

Gem Diamonds sets up cutting and polishing facility in Dubai

LSE-listed diamond-miner Gem Diamonds on Friday announced that it would "capture additional margin post the mine gate" with the establishment of a cutting and polishing facility, as well as the establishment of proposed off-take agreements from...

We're ready to evaluate and fund good mining projects, says

Calling all junior miners with promising prefeasibility-stage resource projects - come in, please, says Industrial Development Corporation (IDC) mining head Abel Malinga.

We're ready to evaluate, fund junior mining projects, IDC announces

Junior miners with promising resource projects at prefeasibility stage should contact South Africa's state-owned Industrial Development Corporation (IDC) for evaluation and financial assistance, IDC mining head Abel Malinga said on Monday.

Valuable Lesotho diamonds, ferrochrome doubling, 550-km iron-ore pipeline

The Letseng diamond operation is coming up trumps for the fast-growing Gem Diamonds. In fact, the former Brett Kebble asset is delivering gems that are selling way above the industry average. Not that long ago, this highest diamond mine in the...

Gem mulls going downstream to capture Letseng's beyond-mine-gate margin

The Letseng diamond operation in Lesotho is producing diamonds of such high value that 70% owner Gem Diamonds may go downstream with its 30% Lesotho government partner in order to capture part of the margin beyond the mine gate, Mining Weekly can...

Gem Diamonds sells diamond for R61,37m

LSE-listed diamond-miner Gem Diamonds sold a 215 ct white D colour diamond in Antwerp, on February 28, for $8,3-million (R61,37-million), the company announced on Wednesday.