Gem Diamonds Strikes Fourth +100-Carat Gem in 2024

Gem Diamonds unearthed a 169.15-carat Type II white diamond – its fourth +100-carat stone found in 2024, IDEX Online reports. In January, Gem recovered two diamonds weighing 129 carats and 295 carats respectively, followed by a 113-carat diamond in February.

 

The UK-based mining company unearthed just five +100-carat diamonds throughout the entirety of 2023 from its Letseng mine in Lesotho, a huge drop from its usual annual average of eight.

 

Letseng, in which Gem holds a 70% stake with the Lesotho government owning the remaining 30%, stands as the world’s most lucrative kimberlite diamond mine in terms of dollar per carat.

 

Earlier this year, the company reported a decline in revenue and average per carat prices for 2023, with figures dropping by approximately a quarter to $139.4 million and $1,334 respectively.

 

295-Carat Diamond

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