Mining at a Gem Diamonds Mine

GEM DIAMONDS’ ROUGH PRICES SLIDE IN H1 2016

Gem Diamonds Limited has reported its first half results for 2016, which showed that its Letseng Diamonds average prices slid to $1,899 per carat from $2,264 over the same period in 2015, IDEX Online reports. The company said that it had recovered 57,380 carats during the period compared to 50,019 over the first half in 2015 – a 12..9% increase.

Gem Diamond revealed that it had recovered an undamaged Type II 160-carat and an 11.8-carat pink diamond, which sold for $187,000. The company also revealed that it had recovered an exceptional quality 104-carat Type II white diamond in July.

At its Ghaghoo plant, diamonds achieved an average price of $160 per carat during the first quarter and a subsequent average price of $155 per carat at a further sale in June.

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