R/€ = 15.81 Change: 0.00
R/$ = 13.66 Change: 0.00
Au 1268.50 $/oz Change: -4.65
Pt 870.50 $/oz Change: 9.18


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. 

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are interested in acquiring the Ghaghoo mine, in Botswana, after an offer from an undisclosed party to buy the mine was withdrawn.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... 

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. 

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. 

Diamond industry’s famous hungry crocodile doesn't cut it

By: Bloomberg     28th March 2017 The diamond industry’s most famous chart is the hungry crocodile, the ancient reptile’s jaws wide open, reflecting both a predicted shortage of gems and the inevitable price rises that will come with it. Not only has this chart, which has been an industry staple for more than a decade and... 

Gem halts Ghaghoo mine amid low prices

By: Megan van Wyngaardt     16th February 2017 Gem Diamonds has placed its Ghaghoo mine, in Botswana, on care and maintenance with immediate effect. Although the development of the mine had progressed well and reached the point where it would shortly be able to start full commercial production, the material fall in the diamond price from... 

Ghaghoo Decline Tunneling Through Sand

23rd January 2017 The Southern African Institute of Mining and Metallurgy (SAIMM) Johannesburg branch held its monthly technical presentation at Worley Parsons in Johannesburg last Thursday, 19th of January 2017. SAIMM Johannesburg branch chairperson John Arthur Luckmann formally introduced presentation speaker... 

Gem Diamonds pleased with interim results

By: Megan van Wyngaardt     17th August 2016 Aim-listed Gem Diamonds achieved solid earnings before interest, taxes, depreciation and amortisation (Ebitda) of $43.5-million in the six months ended June 30. “This reflects careful cost management and capital discipline. It is also encouraging to see that the capital projects implemented at... 

Gem Diamonds reports ‘strong’ FY results

By: Anine Kilian     15th March 2016 Despite a challenging year for the diamond mining industry, LSE-listed Gem Diamonds on Tuesday reported a “strong” set of results for the 2015 financial year. Underlying earnings before interest, taxes, depreciation and amortization decreased by 2% year-on-year to $103.5-million, while earnings a... 

Inventory, liquidity headwinds dent Gem Diamonds’ H1 pricing

By: Natalie Greve     30th July 2015 High inventory levels and continued liquidity concerns, paired with global macroeconomic uncertainties, have continued to place pressure on the price of rough and polished diamond prices, denting the realised price of commercial stones recovered at Gem Diamonds’ Ghaghoo mine, in Botswana, for the... 

Diamond mines pave way for company’s sustainable growth

By: Kimberley Smuts     5th June 2015 UK-based global diamond mining business Gem Diamonds continued throughout last year to focus on enhancing operational efficiencies and investing in innovative technologies at its Letšeng and Ghaghoo mines, in Lesotho and Botswana respectively.  This strategy noted in the company’s 2014 full-year... 

Gem Diamonds encouraged by Lesotho, Botswana progress

By: Natasha Odendaal     21st May 2015 Despite a “noticeably weaker” first-quarter market, the first three tenders in 2015 for the flagship Letšeng mine, in Lesotho, had generated prices comparable to that of the three tenders in the final quarter of 2014, London-listed Gem Diamonds CEO Clifford Elphick said on Thursday. Providing a... 

Gem Diamonds warns of possible price softening in early 2015

By: Natalie Greve     27th January 2015 Gem Diamonds CEO Clifford Elphick has cautioned that a weakening of diamond prices in the fourth quarter of last year, following a year of price growth, could continue into the first quarter of 2015. The group said on Tuesday that the announcement of the closure of the Antwerp Diamond Bank (ADB)... 

Ghaghoo mine starts small

By: Dylan Slater     12th December 2014 Botswana’s newly established Ghaghoo diamond mine, owned and operated by London-listed Gem Diamonds, will be operated on a ‘small mine basis’ until the value of the resource is fully understood, Gem Diamonds tells Mining Weekly. 

First diamonds from Ghaghoo mine to be sold in Feb 2015

By: Creamer Media Reporter      6th November 2014 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     8th September 2014 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     29th July 2014 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     12th May 2014 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     28th March 2014 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     18th March 2014 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     28th January 2014 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 Kilian     18th October 2013 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      26th June 2013 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     30th July 2012 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     18th June 2012 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     20th March 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 overall prices for rough diamonds ended last year... 


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