onlydiamonds
No Result
View All Result
  • Home
  • Diamond News
  • Trending
  • Contact us
  • Home
  • Diamond News
  • Trending
  • Contact us
No Result
View All Result
onlydiamonds
No Result
View All Result
Home Diamond News

Gem Diamonds Reports Significant Revenue Growth

October 31, 2024
Reading Time: 1 min read
0
Gem Diamonds Reports Significant Revenue Growth


RELATED POSTS

UAE Revises VAT Law for Precious Metals and Jewellery

Industry Groups Revive Jewelers Relief Fund

Macy’s to Close 66 Stores Across the US 

The company has benefited from an exceptional recovery of large diamonds, having unearthed 13 diamonds weighing over 100 carats this year, surpassing the historical average of eight. The Letseng mine in Lesotho, where these recoveries took place, has proven particularly lucrative, yielding several high-value stones.

During the quarter, Gem Diamonds achieved a record price of $45,537 per carat for a stunning 10.98-carat pink diamond. Although the company sold a total of 26,617 carats—an 11% decline from the previous year—average prices per carat saw a significant increase of 18%, reaching $1,603.

Notably, six diamonds were sold for over $1 million each during the quarter, collectively contributing $22.6 million to the company’s revenue. Additionally, five diamonds weighing over 100 carats were recovered in the same period.

The Letseng mine, in which Gem Diamonds holds a 70% stake alongside the Lesotho government, remains the highest dollar-per-carat kimberlite diamond mine globally.

Cumulatively, year-to-date sales for 2024 have reached $120.5 million, compared to $103 million at the same time last year, reflecting a positive trajectory for the company.



Source link

Buy JNews
ADVERTISEMENT
ShareTweetPin
admin

admin

Related Posts

UAE Revises VAT Law for Precious Metals and Jewellery
Diamond News

UAE Revises VAT Law for Precious Metals and Jewellery

January 13, 2025
Industry Groups Revive Jewelers Relief Fund
Diamond News

Industry Groups Revive Jewelers Relief Fund

January 12, 2025
Macy’s to Close 66 Stores Across the US 
Diamond News

Macy’s to Close 66 Stores Across the US 

January 12, 2025
International Investor Buys Up Star Diamond Stock 
Diamond News

International Investor Buys Up Star Diamond Stock 

January 12, 2025
Australian Miner Left in Disbelief After Incredible 394-Carat Sapphire Discovery
Diamond News

Australian Miner Left in Disbelief After Incredible 394-Carat Sapphire Discovery

January 10, 2025
South Africa: A Global Leader in Sustainable and Ethical Diamonds – Diamgold Academy Online Courses
Diamond News

South Africa: A Global Leader in Sustainable and Ethical Diamonds – Diamgold Academy Online Courses

January 10, 2025
Next Post
An interview with Minister Dr. Diamantino Pedro Azevedo from Angola

An interview with Minister Dr. Diamantino Pedro Azevedo from Angola

Tulip Diamonds FZE I The Diamond Blog

Tulip Diamonds FZE I The Diamond Blog

Recommended Stories

Registration Open for The Jewelry Symposium 2025 – Scholarship Applications Now Being Accepted

Registration Open for The Jewelry Symposium 2025 – Scholarship Applications Now Being Accepted

November 11, 2024
Diamond Trade in Talks over $65M Marketing Fund

Diamond Trade in Talks over $65M Marketing Fund

November 19, 2024
Four Dazzling Jewelry Pieces from the Auction Season

Four Dazzling Jewelry Pieces from the Auction Season

December 19, 2024

Popular Stories

  • New International General Manager appointed for Chow Tai Fook

    New International General Manager appointed for Chow Tai Fook

    0 shares
    Share 0 Tweet 0
  • Sustainability Champions Celebrated at Jewellery & Gem WORLD Hong Kong 2024

    0 shares
    Share 0 Tweet 0
  • Some Sightholders Lose Supply as De Beers Reduces Allocations

    0 shares
    Share 0 Tweet 0
  • Sotheby’s to Offer Diamond Necklace with Link to Marie Antionette

    0 shares
    Share 0 Tweet 0
  • Jewelry Strong for Richemont Amid Overall Downturn

    0 shares
    Share 0 Tweet 0
onlydiamonds

© 2024 onlydiamonds

Navigate Site

  • Home
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Follow Us

No Result
View All Result
  • Home
  • Diamond News
  • Trending
  • Contact us

© 2024 onlydiamonds