Tag Archives: Gem Botswana

Botswana diamond mine mothballed by Gem because if weak demand

Reuters

Gem Diamonds Ltd (GEMD.L) said it would place its Ghaghoo mine in Botswana under care and maintenance with immediate effect due to a fall in diamond prices.
The company, which mines diamonds from the Letseng mine in Lesotho and the Ghaghoo mine, said the move would result in an annualised care and maintenance cost of $3 million, post settlement expenses.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)