Gem Diamonds boosts revenues through the sale of six large diamonds

Gem Diamonds bucked the trend in the depressed global diamond industry during the September quarter thanks to the sale of six large diamonds of which four were greater than 100 carats.The six diamonds sold accounted for $22.6m equivalent to 53% of total revenues of $42.7m that Gem received during the September quarter from the sale of a total of 26,617 carats (June quarter 2024 – 24,422 carats).Gem’s only operation is the Letseng mine in Lesotho, which is known for producing numbers of large, high-quality diamonds which sell for very high prices.According to a trading statement released by Gem the highest price achieved during the quarter was $45,537 per carat for a 10.98 carat pink diamond while the average price for the September quarter was $1,603 per carat ($1,424 per carat.)Gem reported that five diamonds of greater than 100 carats were recovered during the September quarter bringing the total year-to-date recoveries of stones greater than 100 carats to 13.The post Gem Diamonds boosts revenues through the sale of six large diamonds appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.comWeiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com