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Diamonds
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diamonds

Gem to report 15% q/q rise in carat sales for the first quarter

The Letšeng mine

The Letšeng mine

25th April 2024

By: Creamer Media Reporter

     

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London-listed Gem Diamonds notes in a trading update for the first quarter of this year that it sold 32 571 ct of diamonds recovered from its 70%-owned Letšeng mine, in Lesotho.

This represents a 15% increase on the 28 402 ct sold in the fourth quarter of 2023.

Carat recoveries, however, decreased by 5% quarter-on-quarter to 30 506 ct.

Nevertheless, the mine continued to deliver large diamonds, with three weighing more than 100 ct each recovered and sold during the quarter under review.

Sales for the quarter included five diamonds that sold for more than $1-million each, generating revenue of $18.6-million.

The highest price achieved in the period was $39 345/ct for a 113.11 ct white diamond.

 

 

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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