Gem Diamonds Recovers Second +100-ct Stone This Year

By John Jeffay / July 03, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Gem Diamonds has recovered its second +100-ct diamond of the year at its Letseng mine, in Lesotho.The UK-based miner described it as "an impressive 163.91-carat yellow diamond".But it will be hoping for more. Recoveries of large diamonds last year were below average - four +100-cts compared with an average since 2008 of eight per year.So far it has recovered two this year. In March it recovered of a 122-carat D color Type II white diamond.Full-year revenue for 2022 dipped six per cent to $188.6m. Gem Diamonds, which owns 70 per cent of the Letseng mine, in the process of selling its 100 per cent share in its other mine, Ghaghoo, in Botswana, which has been mothballed since 2019, to Botswana-based Okwa Diamonds, owned by Vast Resources.The highest price for a Letseng diamond last year was $34,170 per carat for a 42.98- carat white diamond that sold for $1,469,000. Three other diamonds sold for over $1m during the year.Pic courtesy Gem Diamonds shows the 163.91-carat yellow diamond

Recent News

Gold stocks rocket on metal rebound and equities jump

December 01, 2025 / www.canadianminingreport.com

Silver supply shortage continues

December 01, 2025 / www.canadianminingreport.com

Several new entrants to TSXV large gold, including producer Asante

November 24, 2025 / www.canadianminingreport.com

Gold stocks down on metal decline, equity market slide

November 24, 2025 / www.canadianminingreport.com

Largest gold producers see strong Q3/25 earnings

November 17, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok