London-listed Gem Diamonds says the company is considering potential long-term alternative power supply options for its Letšeng mine, in Lesotho, which has also been affected by rotational power cuts, or loadshedding, implemented by South African power utility Eskom.
CEO Clifford Elphick points out that loadshedding impacts on the mine’s production, but also contributes to costs.
During 2022, Gem recovered 106 704 ct of diamonds, compared with the 115 335 ct recovered in 2021.
It sold 107 498 ct in 2022, achieving an average price of $1 755/ct, compared with the 109 697 ct sold in 2022 at an average price of $1 835/ct.
Although lower than in 2021, diamond recoveries and sales exceeded Gem’s targeted 104 000 ct and 105 000 ct, respectively.