Gem upbeat despite price drop

Africa-focused miner Gem Diamonds has reported a strong operational performance since July despite a softening in rough diamond prices. The company said its Letseng and Ellendale mines both achieved good prices in recent sales, and that the grade per carat increased 39 per cent to 1.63 carats per hundred tons. The miner also said it had recovered 82,584 carats, 20 per cent more than the year before. Gem Diamonds also noted that it completed the sale of its 80 per cent interest in its alluvial diamond mining company, PT Galuh Cempaka in Indonesia.