Tag Archives: diamond mines of africa

Gem Diamonds finds two large rough diamonds at flagship mine in Lesotho Africa

Africa-focused Gem Diamonds (LON:GEMD) has discovered two diamonds bigger than 100 carats at its Letšeng mine in Lesotho, which should help the company boost revenue and investors confidence.

The two massive diamonds are a 151.52-carat Type I yellow rock and a high quality 104.73-carat, D-colour Type IIa stone, the London-based miner said in a statement.

The last time Gem Diamonds had made a significant discovery at its Letšeng mine before April this year was in 2015.The findings come on the heels of other key discoveries at the mine. In April, the company announced the recovery of a 114-carat diamond and last month it found one of the highest-quality diamonds to come out of the Letšeng mine — an 80-carat, D-colour Type-II diamond.

The last time Gem Diamonds had found a significant diamond in Lesotho was in 2015, when it unearthed an “exceptional” 357-carat rock, later sold for $19.3 million.

Investors reacted positively to the news, with the stock was trading at 1.64% higher at 93 pence around 2:00PM GMT.

Since acquiring Letšeng in 2006, the company has found four of the 20 largest white gem quality diamonds ever recovered, which makes of the Lesotho mine the world’s highest dollar per carat kimberlite diamond operation.

At an average elevation of 3,100 metres (10,000 feet) above sea level, Letšeng is also one of the world’s highest diamond mines.

www.www-gems.com

Henry Sapiecha

Diamond deposits run out in Zimbabwe & massive layoffs expected

zimbabwe-as-diamond-deposits-image www.worldwidediamonds.info

Diamond mining firms operating in Zimbabwe’s Marange deposit are expected to cut around 400 jobs this week as it has become economically unviable for them to dig any deeper for the precious stones.

Chinese firms Anjin and Jinan are among the miners that have already ceased operations and will be shutting down mines

According to AllAfrica.com, Chinese firms Anjin and Jinan are among the miners that have already ceased operations and will be shutting down mines because Marange has run out of alluvial diamond deposits. These rocks are those close to the surface and so easily extractable through open cast mining.

Marange is the largest diamond discovery in generations image www.worldwidediamonds.info

Some experts believe that Marange above is the largest diamond discovery in generations but the find has been dogged by allegations of human rights abuses and corruption going right to the heart of Robert Mugabe’s government.

The news doesn’t come as a surprise. Late last year the country’s Mines Minister, Walter Chidhakwa, acknowledged the issue and warned the existing miners had neither the expertise nor the resources to search for new deposits underground the country’s current major diamond source.

Henry Sapiecha

pink diamonds line image www.worldwidediamonds.info