- Wednesday, October 16, 2024
London-listed diamond miner, Gem Diamonds, has revised its full-year guidance for diamonds treated at its Letseng mine in Lesotho. The company reduced the throughput at the processing plant to address certain operational issues.
The company now estimates that the total metric tons treated at the Letseng mine for the year will be between 4.9 million and 5.1 million tons. This adjustment was made in response to higher-than-expected internal basalt dilution, which prompted Gem Diamonds to slow down the throughput and minimize the impact.
Furthermore, interruptions in grid electricity have caused a decrease in the volume of ore being processed.
Gem Diamonds has reported positive initial results from these actions on plant stability and recoveries.
First Half Performance
During the first half of the year, carats recovered and sold by Gem Diamonds were in line with its guidance. There was a 3% increase in carats sold, totaling 52,163, while carats recovered decreased by 2% to 50,601.
Overall, Gem Diamonds remains committed to addressing the operational challenges it is currently facing at its Letseng mine.
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