Gem Diamonds recovers more carats

GEM Diamonds recovered more carats from its flagship Letseng diamond mine in Lesotho in the first quarter and said it sold its rough diamonds at higher prices.

The company, which is also developing the Ghaghoo mine in Botswana, said it recovered 26 055 carats from Letseng in the first quarter, up 39% from a year earlier.

The average value per carat from the company's first three sales of 2014 jumped 70% to $2 723.