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Gem Diamonds Sees Revenue Drop in 1H
Aug 19, 2015 4:15 AM
By Rapaport News
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RAPAPORT...Gem Diamonds said sales in the first six months of 2015 were $118 million versus $148.9 million a year earlier, according to a company filing to the London Stock Exchange.
In the first half of the year, the company recovered 50,019 carats from the Letseng mine, at an average value of $2,264 per carat. The Ghaghoo minie recovered 35,283 carats.
Prices for Gem's diamonds that are larger than 10 carats have fallen about 3 percent in the first half of this year, Chief Executive Officer Clifford Elphick told Bloomberg News on Wednesday. That compares with declines of about 30 percent for smaller gems.
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Tags:
financial result, Gem Diamonds, Letseng, Rapaport News
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