Zimbabwe lithium miners want royalties to be linked to prices
The battery metal has slumped from a peak in late 2022 amid oversupply and weak demand from the electric vehicle sector.
Shares in Gem Diamonds (LON:GEMD) spiked Thursday after the miner announced it had unearthed one of the highest-quality stones to come out of its Letšeng mine in Lesotho.
The discovery of this 80-carat, D-colour Type-II diamond comes less than a month after the firm announced the recovery of a 114-carat stone from the same mine. And two years after Gem Diamonds found an “exceptional” 357-carat rock, which sold for $19.3 million.
The stock soared on the news and was trading 6.25% higher in London to $89.25 pence at 3:18PM GMT.
Since acquiring Letšeng in 2006, the company has found four of the 20 largest white gem quality diamonds ever recovered, which makes of the Lesotho mine the world’s highest dollar per carat kimberlite diamond operation.
