Gem Diamonds registered a 3% increase in the number of carats sold in the first half of 2023 to 52,163 carats, compared to 50,423 carats the previous year.
However, despite this growth, sales revenue declined 19% year-on-year to $71.6 million.
The decrease in revenue was attributed to the 22% decrease in the price per carat, settling at $1,373.
“The global rough diamond market has experienced a downturn in 2023,” said Gem Diamonds.
“A decrease in the number of large, high-value diamonds recovered, combined with market pressure has negatively impacted the average dollar per carat and revenue achieved during the period.”
The miner sold a 6.63-carat pink diamond for $282,889 per carat, making it the third-highest dollar-per-carat value ever achieved for a Letšeng rough diamond.
It said a Type IIa diamond weighing 58.07 carats was also sold for $34,441 per carat.
During the six months, 12 diamonds were sold for more than $1 million each, resulting in a total revenue of $21 million.
Additionally, two diamonds weighing more than 100 carats were discovered within the same timeframe. One of these has already been sold, while the other will be sold during the third quarter of this year.
Meanwhile, Gem Diamonds produced 50 601 carats in the first half of the year, a 2% drop compared to 51 548 carats, a year earlier.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
