Gems Diamonds On Letseng: Prices Firm, Costs Down, Production Up

Finance and Trade
11/11/2015 13:38

Gem Diamonds reported that diamonds from its Letseng mine in Lesotho achieved an average price of $2,578 per carat in the third quarter compared with $2,264 in the first half of 2015. The average price per carat in the first nine months of this year is $2,374.

Gem Diamonds’ CEO, Clifford Elphick said prices achieved for Letseng's diamonds during the third quarter "remained robust despite the challenging market conditions experienced throughout this period. The large high quality diamonds, for which Letseng is renowned, have contributed to a strong Q3 2015 average price of $2,578 per carat. Letseng has also delivered a strong operational performance, with ore treated, grade and carat recoveries ahead of those of the previous quarter and expected to exceed original full year guidance."