https://www.miningweekly.com
Diamonds
Diamonds
diamonds

Gem's third-quarter output rises, but sales fall on market challenges

The Letšeng mine is renowned for its production of large, top colour, exceptional white diamonds

The Letšeng mine is renowned for its production of large, top colour, exceptional white diamonds

1st November 2023

By: Creamer Media Reporter

     

Font size: - +

London-listed Gem Diamonds achieved an 18% quarter-on-quarter increase in production for the quarter ended September 30, with 26 913 ct recovered.

The company, which owns and operates the Letšeng mine, in Lesotho, noted in a trading update for the quarter that the rough diamond market had experienced a downturn this year.

"A decrease in the number of large, high-value diamonds recovered, combined with this market pressure, have negatively impacted the average dollar per carat and revenue achieved during the period," it said in the November 1 trading update.

The volume of carats sold decreased by 10% quarter-on-quarter to 23 955 ct, while the achieved price decreased by 1% quarter-on-quarter to $1 310/ct.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.172s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: