{"id":7808,"date":"2018-04-08T11:31:00","date_gmt":"2018-04-08T06:01:00","guid":{"rendered":"https:\/\/gjepc.org\/solitaire\/?p=7808"},"modified":"2021-04-08T11:59:10","modified_gmt":"2021-04-08T06:29:10","slug":"gem-diamonds-2017-revenue-13-to-214-3mn","status":"publish","type":"post","link":"https:\/\/gjepc.org\/solitaire\/gem-diamonds-2017-revenue-13-to-214-3mn\/","title":{"rendered":"Gem Diamonds 2017 Revenue +13% To $214.3mn"},"content":{"rendered":"\n

British diamond mining company Gem Diamonds earned a profit of $20.8 million on revenue of $214.3 million for the year that ended December 31st 2017. On a year-onyear basis, the firm\u2019s revenue climbed 13% while its profit declined 36%.<\/p>\n\n\n\n

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The 910-carat D colour Type IIa diamond, named The Lesotho Legend, recovered from Letseng in January 2018, achieved a price of $40 million on tender in Antwerp on March 12th 2018.<\/figcaption><\/figure><\/div>\n<\/div>\n\n\n\n
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A 169-carat top white colour Type IIa diamond from the mine.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n\n\n\n

Diamond production at its Letseng mine in Lesotho grew marginally by 3% to 111,811 carats, averaging $1,930 per carat, versus 108,206 carats in 2016, averaging $1,695 per carat.<\/p>\n\n\n\n

During the year, Gem Diamonds recovered seven diamonds larger than 100 carats each. The 7.87-carat pink diamond achieved $202,222 per carat, making it the second highest price per carat achieved by a Letseng rough diamond. The 58.38-carat white diamond achieved $61,905 per carat, making it the highest price per carat achieved for a Letseng rough white diamond for 2017.<\/p>\n\n\n\n

Clifford Elphick, chief executive of Gem Diamonds, said: \u201cThe second half of 2017 saw the company begin to benefit from the operational improvements implemented during the year, with a significant improvement in the recovery of the large diamonds from Letseng. The market for the mine\u2019s large, high quality white rough diamonds remained strong over the course of 2017, a trend which has continued into early 2018.<\/p>\n\n\n\n

\u201cWe are pleased to have recently announced that The Lesotho Legend sold for the remarkable sum of $40 million. This is believed to be the fifth largest gem quality diamond ever recovered and is testament to the worldclass calibre of the Letseng mine.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

British diamond mining company Gem Diamonds earned a profit of $20.8 million on revenue of $214.3 million for the year that ended December 31st 2017. On a year-onyear basis, the firm\u2019s revenue climbed 13% while its profit declined 36%. Diamond production at its Letseng mine in Lesotho grew marginally by 3% to 111,811 carats, averaging…<\/p>\n","protected":false},"author":1,"featured_media":7815,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[96,100],"tags":[],"thb-sponsors":[],"class_list":["post-7808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diamonds","category-in-focus"],"acf":[],"yoast_head":"\nGem Diamonds 2017 Revenue +13% To $214.3mn - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gjepc.org\/solitaire\/gem-diamonds-2017-revenue-13-to-214-3mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gem Diamonds 2017 Revenue +13% To $214.3mn - Solitaire magazine is a International jewellery magazine - India\u2019s leading B2B gem and jewellery magazine\" \/>\n<meta property=\"og:description\" content=\"British diamond mining company Gem Diamonds earned a profit of $20.8 million on revenue of $214.3 million for the year that ended December 31st 2017. 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