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First diamonds from Ghaghoo mine to be sold in Feb 2015

By: Creamer Media Reporter London-listed miner Gem Diamonds will sell the first 4 028 ct of diamonds recovered at its Ghaghoo mine, in Botswana, in February 2015. The sale of diamonds from the underground mine, which was officially opened in early September, would be held in conjunction with the sale of diamonds recovered... 

Policy reliability made Botswana mine investment possible – Gem Diamonds

By: Martin Creamer Botswana’s policy reliability and investment certainty made it possible for Gem Diamonds to commit a billion pula to the initial phase of the country’s first underground diamond mine despite institutional funding having dried up in the aftermath of the world’s worst financial crisis. Learning... 

Gem Diamonds lifts Letšeng FY guidance after ‘exceptional’ H1 performance

By: Natalie Greve London-listed Gem Diamonds has upped the full-year production guidance for its 70%-owned flagship Letšeng mine, in Lesotho, from between 90 000 ct and 95 000 ct to between 95 000 ct and 100 000 ct, saying on Tuesday that the mine had delivered an “exceptional” performance in the six months ended... 

Gem Diamonds sale prices hike 70%

By: Natasha Odendaal As the demand for rough diamonds continues on an upward trend, Aim-listed Gem Diamonds reports a continued strong output from its Letšeng mine, with prices achieved per carat during the first quarter of the year 70% higher than the first quarter of 2013. More than 30 000 ct were sold at an... 

Iron project in northern Bushveld, platinum mine builder cuts risk, diamond mine coming on stream

By: Martin Creamer Ironveld to produce pilor-plant pig iron on the northern limb of the Bushveld Complex from mid-2014; Wesizwe Platinum cutting coat according to cloth; and Gem Diamonds gearing for commercial production from Ghaghoo in Botswana in the second half of this year. 

Gem Diamond’s $96m Botswana mine on track for H2 production

By: Natasha Odendaal As Gem Diamond’s flagship Letšeng mine, in Lesotho, continued to perform well during the year to December, the London-listed diamond miner was gearing up for commercial production from its Ghaghoo mine, in Botswana. The $96-million mine, situated near the south-eastern border of the Central... 

Gem Diamonds posts strengthened diamond recovery, price for Q4

By: Natalie Greve Global diamond producer Gem Diamonds posted a modest improvement in recovered carats for the fourth quarter ended December 31, 2013, as the satellite pipe at its flagship Lesotho-based Letšeng mine delivered “exceptional” quality diamonds in the three months. Carats recovered for the period... 

Company to explore Botswana through JV

By: Anine Vermeulen Aim-listed diamond explorer Botswana Diamonds’ wholly owned subsidiary, Atlas Minerals, has signed a joint venture (JV) agreement with Russia-based OJSC Alrosa subsidiary Sunland Holdings to conduct diamond exploration in Botswana. The JV, which requires equal contributions from each party, will... 

Gem recovers another 100 ct diamond at Letšeng, shares rise

By: Creamer Media Reporter LSE-listed Gem Diamonds’ share price rose by 7.74% on Wednesday morning after it announced that it had recovered another 100 ct diamond at its Letšeng mine. The white, Type IIa diamond was recovered on June 22 and is the third diamond larger than 100 ct in size to be recovered at the mine since May. 

Gem Diamonds reviews capex plans for Lesotho, Botswana projects

By: Idéle Esterhuizen London-listed Gem Diamonds has initiated a review of its capital investment plans and said it might delay projects in Lesotho and Botswana in order to protect the company’s balance sheet in light of continued economic uncertainty. CEO Clifford Elphick said on Monday the review would focus on... 

Fatalities, adverse ground conditions delay Ghaghoo production

By: Natasha Odendaal London-listed diamond producer Gem Diamonds on Monday said two contract workers died at its Ghaghoo underground mine project, in Botswana, when the ground collapsed at the face of the tunnel development. The combination of the fatalities – the mine’s first in 2012 – and adverse ground... 

Gem Diamonds sees prices strengthening by mid-2012

By: Idéle Esterhuizen 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 overall prices for rough diamonds ended last year... 

Letšeng sales strong despite lower rough diamond prices – Gem Diamonds

By: Henry Lazenby 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 reported that prices have softened across the... 

Gem Diamonds earmarks $300m for growth phase

By: Loni Prinsloo London-listed Gem Diamonds said on Monday that it would not enter a cash negative position while funding the development of its two growth projects over the next three years. CFO Kevin Burford said that the diamond miner would need an estimated $300-million over a three-year period to fund an... 

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