Letseng Diamonds Sell For $2,723/ct In Q1 2014, Up 70% YOY

Image: Letseng Mine, Maluti mountains, Kingdom of Lesotho. Source Gem Diamonds.

May 12, 2014

By Paul Zimnisky

According to Gem Diamonds (LSE: GEMD), Letseng produced 26,000 carats in Q1, 2014, which puts it on pace to produce 105k carats in 2014. The average price per carat sold during the period was $2,723, which is a 70% increase YOY. 17 diamonds (individually) worth in excess of $1M were produced during the quarter, including a 162 carat diamond which sold for $11.1M in February.

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