Revenues at Gem Diamonds drop 8% in H1

At the close of the first half of 2012, revenues at Gem Diamonds dropped 8 percent to $180.2 million, reports say. The company attributed this period to ‘lowered liquidity and drop in rough diamond demand in the emerging markets’, reports suggest. The mining company’s net profit fell 51 ‎percent to $24.9 million.

The average sale price of diamonds sourced from the company’s Letšeng ‎mine in Lesotho, dropped 30 percent to $2,133 per carat. The mine delivered production of 57,116 carats, an 8 percent increase, while sales in terms of volume was up 12 percent to 58,725 carats.

The average sale price of commercial production sourced from the company’s Ellendale mine in Australia decreased 8 percent to $180 per carat. Production at the mine was up 51 percent to 78,881 carats, while the volume of sales increased 29 percent to 74,580 carats. The average price of fancy yellow diamonds from the Ellendale mine rose 7 percent to $4,045 per carat. ‎