Diamond News Archives
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(IDEX Online) - Gem Diamonds saw an increase in revenue and profits in 2020, despite Covid forcing the closure of its Letseng mine, in Lesotho, between March and May.
The London-based miner reported net profits for the year of $24.3m, up almost 130 per cent on $10.6m in 2019. Sales were up 4.2 per cent to $189.6m.
Letseng mine, the highest dollar per carat kimberlite diamond mine in the world, achieved an average value of $1,908 per carat. The highest per carat value for a white rough diamond during the year was $38,827 per carat.
Sixteen diamonds larger than 100 carats each recovered, compared with 11 in 2019.
"Gem Diamonds has delivered positive operational and financial results during a very challenging year," said CEO Clifford Elphick in the company's Full Year Results for the year ending 31 December 2020.
"The stronger prices achieved in the second half of 2020, reaffirms the recovery of the diamond market and the unique quality of the Letseng production."
He said Gem planned to pay an ordinary dividend of 2.5 US cents per share.
Pic courtesy Gem Diamonds...
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(IDEX Online) - Signet Jewelers has handed over $4m to a children's cancer hospital, much of it raised from customer and employee donations.
The company, which has almost 2,900 retail outlets worldwide, has raised $81m in the last 22 years for the St. Jude Children's Research Hospital, in Memphis, Tennessee, USA.
"Our partners, their employees and customers continue to have big hearts for the children of St. Jude," said Marlo Thomas, national outreach director for the hospital.
"And their support helps ensure our doctors and researchers will continue their tireless work to end childhood cancer and other life-threatening diseases."
Signet contributed directly through the sale of fundraising plush puppies and bears at its stores.
It said its employees worked hard to persuade customers to support the kids and families at St. Jude, while also contributing themselves as part of its employee giving campaign.
Pic shows Braydn, a patient at St. Jude...
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