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Diamonds|Financial
Diamonds|Financial
diamonds|financial

Gem achieves 9% y/y increase in first-half diamond sales

The Letšeng mine

The Letšeng mine

13th August 2024

By: Creamer Media Reporter

     

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London-listed Gem Diamonds sold 56 944 ct of diamonds recovered from its Letšeng mine, in Lesotho, generating $77.9-million for the six months ended June 30.

This represents a 9% increase on the 52 163 ct of diamonds sold in the first half of 2023, generating revenues of $71.6-million.

The average price of $1 366/ct for the first half of this year was marginally lower than the average price of $1 373/ct reported for the prior half-year period.

In a trading statement published on August 13, Gem points out that, during the period under review, 11 diamonds sold for more than $1-million each, generating revenue of $29.5-million.

Further, the highest price achieved was $41 007/ct for a 62.78 ct diamonds.

The diamond miner says all operational and financial metrics are trending within the original guidance for the full-year.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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