Gem Diamonds achieved an average price of $2,217 per carat for Q4 2017 (ending 31 December) – a 19% increase over the previous quarter, according to IDEX Online. The rise is attributed to “strong rise in sales and the recovery of many diamonds greater than 100 carats at its Letšeng mine in Lesotho”.
During Q4, Gem Diamonds sold 31,476 carats – up 21% from compared to the previous quarter. It recovered seven gem quality diamonds greater than 100 carats during 2017. The largest was a 202.16 carat Type IIa diamond recovered in November. During 2017, the miner sold 38 diamonds for more than $1 million each, generating revenue of $94.8 million for the year. In 2016, it sold 34 diamonds sold for more than $1 million each, raking in $73.7 million.
Gem Diamonds’ CEO Clifford Elphick commented: ” […] the improvement in the recovery of greater than 100 carat diamonds is continuing into 2018, with five greater than 100 carat diamonds recovered in the first month of 2018. This is largely attributable to the ongoing technical improvements made at the Letšeng mine”.
