Gem Diamonds achieves record prices for roughs from Letšeng in H1

Diamonds mined in the first half of 2010, at Gem Diamonds’ mining fields have reported ‘record prices’. The company’s Letšeng mine recorded an average price o of $3,052 per carat for diamonds mined there. There were 30 rough diamonds valuing over than $1 million, and 105 rough diamonds valued over $20,000 per carat. The mine produced 295 rough diamonds of over 10.8 carats in size.

Also fancy yellow diamonds mined at the Gem Diamonds’ Ellendale mine in Australia will be sold at 24.73 percent hike in prices. The diamonds are sold to retail giant Tiffany & Co and recorded average prices worth $4,045 per carat, as compared to average price of $2,588 per carat in H1 last year.

On its corporate front the company has renamed its wholly owned subsidiary company in Botswana - Gope Exploration Company (Pty) Limited to Gem Diamonds Botswana (Pty) Limited. The original subsidiary holds a mining license for the Gope Deposit, which also has been renamed to Ghaghoo Diamond Mine.