Gem Recovers Fourth +100-cts Stone of 2024

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Gem Recovers Fourth +100-cts Stone of 2024
Pic of 169.15-carat diamond courtesy Gem Diamonds.

Gem Diamonds has announced the recovery of a 169.15-carat Type II white diamond, its fourth +100-cts stone of 2024.

The UK-based miner recovered a total of just five +100-cts stones in the whole of 2023 from its Letseng mine in Lesotho, well down on its long-term average of eight a year.

In January Gem recovered two diamonds, weighing 129-cts and 295-cts and in February it recovered a 113-ct diamond.

Letseng – 70 per cent owned by Gem and 30 per cent by the Lesotho government – is the highest dollar per carat kimberlite diamond mine in the world.

Earlier this year the company said revenue and average per carat prices were down by around a quarter in 2023, to $139.4m and $1,334.

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