5th Mar 2014 10:42
LONDON (Alliance News) - Gem Diamonds Ltd Wednesday said the sale of two diamonds of over 160 carats has made a total of USD13.5 million.
The high-value diamond producer said the diamonds, which were recovered from the company's Letseng Mine in Lesotho, were sold in the company's February tender.
One 162.02 carat diamond sold for USD11.1 million, or USD68,687 per carat and the other 161.31 carat diamond sold for USD2.4 million, or USD14,636 per carat.
Gem Diamonds recovered the stones at the end of January in largely undamaged condition, reflecting possible improvements in the company's diamond damage reduction strategy.
The company said that in October it had sold a 12.47 carat blue diamond for USD7.5 million, and in December a 78.69 carat white diamond sold for USD5.2 million.
Gem Diamonds shares were up 0.1% to 169.60 pence Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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