Gem Diamonds revenues rise by 9% in H1
Eight greater than 100 carat diamonds were also recovered during the period of which six were sold
Gem Diamonds has reported a 9% increase in revenues to US$77.9m (£60.6m) as it sold 56,944 carats in H1 2024 (H1 2023: 52,163 carats).
From 1 January 2024 to 30 June 2024 the group also achieved an average price of US$1,366 (£1063.7) per carat and saw a 10% increase in recovered carats from 50,601 to 55,873.
The highest price achieved in the period was US$41,007 (£31,933) per carat for a 62.78 carat white diamond.
Meanwhile, 11 diamonds sold for more than US$1.0m (£778,850) each, generating revenue of US$29.5m (22.97m).
Eight greater than 100 carat diamonds were also recovered during the period of which six were sold.
At the end of the period, a 145 carat type II white diamond was recovered bringing the total recoveries of greater than 100 carats to nine for the current year.
Looking ahead, the group stated that all operational and financial metrics are trending within the original guidance issued in March for 2024.
Gem Diamonds is a global producer of high value diamonds. The group owns the Letšeng Diamond mine in Lesotho and the Ghaghoo mine in Botswana, with head offices in the United Kingdom and Sales, Marketing and Manufacturing capabilities in Belgium.
