Letšeng production & rough price-both drops
Gem Diamonds recovered 47125 carats in Half Year 2025 Gem Diamonds Limited, announces its Half Year Results for the six months ended 30 June 2025. According to the Letšeng mine operational results, Gem Diamonds recovered 47 125 carats (H1 2024: 55 873 carats) show a tumbling recovery year over year! Average price of US$1 008 per carat achieved (H1 2024: US$1 366 per carat). The highest dollar per carat achieved for a white rough diamond during the Period was US$26 441 per carat. Taking into account the prevailing market conditions, current diamond prices and exchange rates, the recoverable amount of Letšeng was assessed at Period end and an impairment of US$10.7 million was recorded to bring the carrying value in line with the recoverable amount. The impairment was allocated to goodwill which is now fully impaired. In a response to market conditions, Gem Diamonds said, as reported in the trading update published on 23 July 2025, Gem Diamond...