Gem Diamonds revenue at three year high

Gem Diamonds Ltd has had a 50 percent value increase this year. Rough diamond prices have risen about 14 percent year to date on Chinese demand.

Gem Diamonds average sales were at $2,747 per carat an increase 58 percent. Gem Diamonds Letseng mine in Lesotho has produced some of the world’s biggest diamonds, including the 603-carat Lesotho Promise.

A polished diamond from the Lesotho Promise is at Graff Diamonds in London. Gem Diamonds reported first two quarter profit of $19.7 million. And Gem reported an increase in sales of 54 percent to $148.9 million.

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