Recently, Gem Diamonds Limited announced their group’s operational and sales performance from 1 October 2023 to 31 December 2023 or say Q4 2023. In the context they reviewed the scenario of Diamond Market.
In the row Gem Diamonds gaze the diamond market scenario & said, the global rough diamond market continued to experience downward pressure in Q4 2023. This negatively impacted the average dollar per carat and revenue achieved during the Period.
Overall tonnes treated by the Letšeng plants in FY 2023 were comparable to 2022. The reduction from 5.5 million tonnes to 5.0 million tonnes was primarily due to the expiry of Alluvial Ventures’ processing contract on 30 June 2022, which contributed 0.4 million tonnes in that year.
Initiatives to stabilise plant performance during Q3 2023 by reducing throughput rates in the processing plants resulted in improved plant availability leading to an increase in tonnes treated and carats recovered from Q3 2023 to Q4 2023.
Taking into account the reduced tonnes treated for FY 2023, total waste tonnes mined were consequently reduced, which also had a positive impact on costs. This reduction in waste tonnes remains in line with the optimised mine plan and ensures future availability of ore. The slope steepening of the active cutbacks in the Main pipe also contributed to this reduction.
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