Gem Diamonds Not Concerned About Political Turmoil in Lesotho

Reuters reported yesterday that Gem Diamonds Ltd. (LSE:GEMD), whose flagship asset is the Lesotho-based Letseng mine, does not see political events in the country affecting its operations.

Lesotho’s prime minister left for South Africa on Saturday “hours before the army surrounded his residence and overran police stations in the capital Maseru.”

As quoted in the market news:

‘It is not anticipated that there will be any impact upon operations at Letseng nor upon any of the company’s sales and marketing operations in respect of the Letseng production,’ the company said in an emailed statement.

The London-listed diamond miner said its management in Lesotho reported no disruption at the mine, which is situated in the Maluti mountains.

Click here to read the full Reuters report.