Gem Diamonds has raised $12.1 million from the first round of the Letšeng flexible tender sales process, which concluded on 26 March.
Image credit: Gem Diamonds
The flexible tender sales process was put in place as a result of the March large diamond tender being cancelled due to the travel and other Covid19 restrictions imposed by the Belgian government and the governments of the company's clients.
"The results of the initial round of the flexible tender sales process for a selection of Letšeng's large diamonds demonstrates the continued demand for these high quality diamonds,” said Gem Diamonds chief executive Clifford Elphick.
“The $12.1 million raised from the sale maintains revenue and cashflow during the current challenges of the Covid19 global pandemic.”
The flexible tender sales process will continue during the period of these restrictions.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
