Gem Diamonds� Revenue up 54% to $149m
Thursday, August 21, 2014
The company noted that the first half of 2014 experienced strong demand for rough diamonds from its Letšeng mine, and, in particular, for the mine’s renowned large, high-quality diamonds. The company held five Letšeng tenders during the period, achieving $147.8 million or an average price of $2,747 per carat, compared with an average price of $1,741 per carat achieved in the same period one year ago. The fifth tender alone achieved $45.6 million, with an average price of $3,277 per carat.
Three diamonds larger than 100 carats, including a 162.02-carat stone, a 161.31-carat diamond and a 132.55-carat diamond, were recovered during the period and achieved a total sales value of $21 million. Gem Diamonds anticipates that the second half of the year will experience strong price dynamics from robust long term demand from non-traditional markets in Asia and strength in traditional markets alongside limited growth in supply.
The recent Vaccination Day in Motokwe, orchestrated through collaborative efforts between UNICEF, USAID, BRCS, and the Ministry of Health, underscores a commendable stride towards fortifying child health services.The painful reality as reflected by the Ministry of Health's data regarding the decline in routine immunisation coverage since the onset of the pandemic, is a cause for concern.It underscores the urgent need to address the...