Gem Diamonds has raised a further $6.7 million from the second round of the Letšeng flexible tender sales.
It said the conclusion of the latest flexible tender sales process saw the company achieving an average value of $1 615 per carat for the first quarter of 2020 compared to $ 1 713 per carat in the fourth quarter of 2019.
Image credit: Gem Diamonds
"The second round of the recently introduced flexible tender sales process again demonstrates the ongoing demand for Letšeng's large, high quality diamonds,” said Gem Diamonds chief executive Clifford Elphick.
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 flexible tender sales process will continue during the period of these restrictions.
Gem Diamonds raised $12.1 million from the first round of the Letšeng flexible tender sales process, which concluded on 26 March.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
