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Gem Diamonds
Type Public (LSE: GEMD)
Founded 2005
Headquarters United Kingdom London, England, UK
Key people Roger Davis, Chairman
Clifford Elphick, CEO
Industry Diamond Mining
Revenue £296.9 million (2008)
Operating income £(7.9) million (2008)
Net income £(552.2) million (2008)
Website www.gemdiamonds.com

Gem Diamonds (LSE: GEMD) is a leading British-based global diamond mining business. It is headquartered in London and is a constituent of the FTSE 250 Index.

Contents

History

The business was founded by Clifford Elphick in July 2005.[1] In 2006 the company announced that it had found a diamond of 603 carats (121 g) at the Letseng diamond mine.[2] The Company was first listed on the London Stock Exchange in 2007.[3]

In 2007 the company began diamond prospecting on traditional Bushmen lands in Botswana. Survival International alleged that the company had not carried out sufficient consultation with the Bushmen, many of whom have been forced from their homes. [4]

Operations

The Company has mines in the following locations:

References

  1. ^ Gem Diamonds May Close Mine Following Price Plunge Bloomberg, 1 April 2009
  2. ^ Lesotho diamond put up for sale BBC News, 5 October 2006
  3. ^ Gem Diamonds sparkles in R4bn London IPO Mining Weekly, 14 February 2007
  4. ^ Controversy stalks Gem Diamonds’ Botswana project, October 30, 2007. Minweb.com. Accessed on March 2, 2009.

External links

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