Gem Diamonds

Gem Diamonds logo


Gem Diamonds is a leading global diamond producer of high value diamonds. The company owns 70% of the Letšeng mine in Lesotho and 100% of the Ghaghoo mine in Botswana. The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.

Gem Diamonds has a growth strategy based on enhancing the operating efficiencies of the Letšeng mine and bringing the Ghaghoo mine into production, while maintaining its strong balance sheet. The Company seeks to create additional value from its rough diamond production by pursuing cutting, polishing and sales and marketing initiatives further along the diamond value chain. With favourable supply/demand dynamics expected to benefit the industry over the medium to long term, particularly at the high end of the market supplied by Gem Diamonds, this strategy positions the Company well to generate attractive returns for shareholders in the coming years.

Stock Market Listing:  London [LSE:GEMD]
Bloomberg Ticker: GEMD:LN


Investor Presentation   15-Jun-17
Investor Presentation  13-Feb-17
H1 2016 results  17-Aug-16 
Full year 2015 results 15-Mar-16
Investor Presentation 11-Feb-16
Letšeng Life of Mine plan 22-May-15
More Gem Diamond presentations:

Sustainability Reports

2016 Sustainable Development Report 15-Mar-17
2015 Sustainable Development Report 15-Mar-16
2015 GRI Content Index 15-Mar-16

For more information on environmental management policy, health and safety management, corporate social responsibility and GRI reporting scorecards see

Annual/Half-yearly Reports

Financial year ends 31 December

2016 Annual Report 15-Mar-17 
H1 2016 Report 17-Aug-16 
2015 Annual Report 15-Mar-16
More reports 

Trading Updates

2017 Q1  23-May-17
2016 Q4 6-Feb-17
2016 Q3 10-Nov-16
2016 Q2 19-Jul-16
2016 Q1 26-Apr-16
2015 Q4 3- Feb-16
More updates


Gem Diamonds owns 70% of Letšeng mine in a partnership with the Government of the Kingdom of Lesotho. At an average elevation of 3 100 metres (10 000 feet) above sea level, it is one of the highest diamond mines in the world. It is also the highest average dollar per carat kimberlite diamond mine in the world; in 2015 the average $/ct achieved was $2,299. Since Gem Diamonds acquired the mine in 2006, Letšeng has produced four of the 20 largest white gem quality diamonds ever recovered (Gem Diamond’s webpage on its famous diamonds).

Gem Diamonds is also developing the Ghaghoo mine in Botswana. It has built an underground mine through 80 vertical metres of sand overburden and has completed phase 1 of the development to confirming diamond grades and prices and testing different processing techniques. By the end of 2015 326 922 tonnes of ore had been treated, with 91 499 carats recovered, including a 48 carat diamond, and 30 +10.8 carat diamonds. Additionally small size fancy coloured diamonds were recovered confirming the presence of these valuable diamonds in the ore body.

Mine Location Mining Method Production 2016
100% basis
Gem Diamond
Share %
Gem Diamond
Letšeng Lesotho Open-pit 108 70 76
Ghaghoo1 Botswana Underground  41 100 41
1 Placed on care and maintenance in February 2017

Diamond Sales and Marketing:

Gem Diamonds has a multi-channel marketing strategy in which it sells by tenders, off-take arrangements and partnerships. There will be 8 tenders annually. Gem Diamond’s 100%-owned subsidiary, Baobab Technologies, is a high-tech diamond analysis and manufacturing operation which assists Gem Diamonds in valuing its exceptional rough diamonds and cuts and polishes selected diamonds for selling to prominent high-end diamantaires.

Reserves and Resources

As of 1st January 2015

Reserves: 4.48M cts
Gross Resources (incl. reserves) 25.5M cts
More information: