Gem Diamonds

357-carat white diamond sold for $19.3m

British global diamond mining business, Gem Diamonds Limited, has announced that an exceptional 357-carat white diamond has been sold $19.3 million. The diamond, which was recovered from the Letšeng mine in July this year, went on tender in Antwerp last week. Gem Diamonds CEO, Clifford Elphick, said: “The Letšeng mine has produced…

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Gem Diamonds cites challenging diamond market as profits fall

UK-based diamond production firm Gem Diamonds has been affected by the challenging diamond market as profits fell in the first half of the year. In its first-half financial report for the six months ending June 30, 2015, Gem Diamonds reported that its pre-tax profits fell from $56.2m (£35.7m) in the…

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WFDB to discuss co-operation with new Diamond Producers’ Association

The president of the World Federation of Diamond Bourses (WFDB) has said the upcoming presidents meeting between his body and the International Diamond Manufacturers’ Association will be used as an opportunity to discuss cooperating with the new Diamond Producers’ Association (DPA). Ernie Blom said: “I am looking forward to meeting some…

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Big 7 diamond miners to form association

Seven of the world’s leading diamond mining companies have announced plans to form a new Diamond Producers Association (DPA). The founding members  – ALROSA, De Beers, Rio Tinto, Dominion Diamond Corporation, Lucara Diamond Corporation, Petra Diamonds, and Gem Diamonds – said they will work together to “support the development of…

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Gem Diamonds’ 198ct white diamond sold for £6.6m

Gem Diamonds, owner of the Letšeng mine in Lesotho, has announced the sale of its 198ct white diamond for $10.6m (£6.6m).  The recovery of the Type II, D colour diamond was announced on 5 August, and was sold at the company’s Letšeng tender in September. Clifford Elphick, CEO of Gem…

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Letšeng recovers exceptional 198 carat diamond

Gem Diamonds Limited  has announced that it recovered a 198 carat, white type IIa diamond from the Letšeng mine in Lesotho at the end of July. This exceptional white, high quality diamond displays no florescence and is expected to achieve an exceptional price when sold this year. Gem Diamonds CEO, Clifford…

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The Letšeng Star sold for £10.2 million

Gem Diamonds has announced the sale of the world’s 14th largest white diamond on record. Sold into a profit sharing arrangement, the 550 carat, type lla, D colour rough diamond was recovered at the company’s Letšeng mine on 19 August 2011. Known as the Letšeng Star, it is the fourth…

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