Gem Diamonds Sells 12.47-carat Blue Diamond for Record US$7.5 Million

Gem Diamonds Ltd. (LSE:GEMD) announced that it has sold a 12.47-carat blue diamond and 82-carat, exceptional-quality white diamond for US$7.5 million and $4.8 million, respectively. Both were recovered at the company’s Letšeng mine.

Clifford Elphick, CEO of Gem Diamonds, commented:

Letšeng continues to achieve such outstanding prices for its exceptional diamonds and we continue to expect recovery of such high quality diamonds as mining at Letšeng continues to focus more on the higher grade, higher value Satellite pipe towards the end of 2013 and into 2014.

Click here to read the full Gem Diamonds Ltd. (LSE:GEMD) press release.