Gem Diamonds
Gem Diamonds is a leading global diamond producer known for recovering some of the world’s largest and highest-quality rough stones, primarily from its Letšeng mine in Lesotho. The company plays a significant role in the supply of premium rough diamonds, influencing pricing and availability across the luxury jewellery sector. Jewellery Focus covers Gem Diamonds’ production updates, sales performance, strategic developments, and sustainability practices—providing UK trade professionals with insights into upstream market dynamics and sourcing trends affecting the diamond supply chain.
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Mar- 2025 -4 MarchAppointments
Gem Diamonds appoints new non-executive director
The board of global diamond producer Gem Diamonds has appointed Janet Blas as an independent non-executive director, effective 1 April 2024. This announcement follows the planned retirement of Michael Lynch-Bell, the current senior independent non-executive director, who will step down from the board on 31 March 2025 after nine years,…
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Oct- 2024 -25 OctoberManufacturers
Gem Diamonds revenues rise to $42.7m in Q3
Gem Diamonds has seen its revenues surge to $42.7m (£32.8m) in Q3 2024 compared with $34.8m (£26.78m) in Q2 2024, as it sold 25,617 carat diamonds. It also revealed that the average price per carat also improved, rising to $1,603 (£1,233.5) from $1,424 (£1,095.7) in the prior three months. The…
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Aug- 2024 -14 AugustManufacturers
Gem Diamonds revenues rise by 9% in H1
Gem Diamonds has reported a 9% increase in revenues to US$77.9m (£60.6m) as it sold 56,944 carats in H1 2024 (H1 2023: 52,163 carats). From 1 January 2024 to 30 June 2024 the group also achieved an average price of US$1,366 (£1063.7) per carat and saw a 10% increase in…
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Jun- 2021 -22 JuneAuctions
Sotheby’s to accept crypto payment for £10m diamond
Sotheby’s has revealed that it will accept cryptocurrency payment for a diamond that may sell for over £10m. According to Sky News, the 101.38-carat pear-shaped diamond will be the first stone of such a value to be available to purchase using cryptocurrency, although it is also listed for traditional payments.…
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Jul- 2020 -31 JulyInternational
Gem Diamonds sales rise in H1
Gem Diamonds has announced that it generated $29.4m (£22.3m) in its half-year results, after 16 diamonds sold for more than $1m (£760,000) each. This marked a rise against the 12 diamonds that sold for $26.6m (£20.2m) collectively in the first half of 2019. During the period, the average price of…
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Sep- 2018 -25 SeptemberAuctions
Christie’s Geneva auction to feature largest fancy vivid pink diamond worth $50m
Christie’s Geneva auction will present the largest and finest fancy vivid pink diamond ever offered at auction by the company with a price estimated between $30m to $50m (£22.8m to £38m). Weighing just under 19 carats (18.96 carats), the rectangular-cut gem named the The Pink Legacy will lead Christie’s Magnificent…
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Mar- 2018 -14 MarchAuctions
‘Exceptional quality’ diamond sold for $40m
Gem Diamonds has announced the sale of an ‘exceptional quality’ 910-carat D colour Type IIa diamond, which was sold for $40m (£28m) in Antwerp on 12 March 2018. It was recovered from the Letšeng mine in January 2018 and is the fifth largest gem quality diamond ever recovered. Clifford Elphick,…
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Feb- 2018 -8 FebruaryAuctions
Sotheby’s Diamonds unveils ‘exceptionally’ rare diamond
Auctioneers Sotheby’s Diamonds celebrated the first anniversary of its New Bond Street salon by unveiling a rare 102.34 carat white diamond. According to the group the stone is the only known round brilliant-cut diamond over 100 carats, and has been labelled as ‘perfect’ in colour, clarity and cut. The diamond…
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Jan- 2018 -17 JanuaryInternational
Gem Diamonds recovers ‘exceptional quality’ diamond
Gem Diamonds has recovered an 910-carat diamond from its Letšeng mine in Lesotho, South Africa. It is the largest diamond ever recovered from the mine and the fifth largest gem-quality diamond ever recovered by the company. Clifford Elphick, Gem Diamonds CEO, said: “Since Gem Diamonds acquired Letšeng in 2006,…
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May- 2016 -5 MayAuctions
Largest rough diamond discovered in 100 years could fetch £48m at auction
The largest rough diamond to be discovered in over a century could sell for more than $70m (£48m) at a Sotheby’s auction. The 1109-carat ‘Lesedi la Rona’ – the largest gem-quality rough diamond to be discovered in over a century and the largest rough diamond in existence today – will…
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