skip to main content
the israel diamond industry logo

Gem Diamonds’ Revenue Rises in Q1 2022

Despite price falls, the miner is confident about the outlook for diamond prices
gem diamonds letseng mine
Credit: Gem Diamonds

Gem Diamonds’ revenue in Q1 2022 (ending March 2022) has gone up 4% quarter-on-quarter and 19% year-on-year to $52.1 million, IDEX Online reports.


The miner, which owns 70% of the Letseng mine in Lesotho, sold 28,461 carats during the quarter – a rise when compared to the 24,790 carats it sold in the previous quarter. However, prices fell from $2,018 to $1,831, according to the report.


Clifford Elphick, Gem Diamonds’ CEO, said: “We remain confident about the outlook for diamond prices, particularly for Letseng’s large high-value diamonds with an average price of $1,831 per carat achieved during the period. Prices achieved on a like-for-like basis continued the largely upward trend from 2021.”


brown high quality diamond
Credit: Gem Diamonds

Tags: Diamonds News, Jewelry News, Diamond Industry News, Diamond Prices News, Gem Diamonds News

More News