Gem Diamonds to “effectively double” Letseng mine carats to 2014

The board of London listed African diamond miner, Gem Diamonds Limited (LSE: GEMD), has green lit plans to expand the company’s 5.6 million tonnes per annum Letšeng mine in the Kingdom of Lesotho (“Lesotho”) by almost double its current capacity; to 10 million tonnes per annum at an estimated cost of US$280 million funded from existing cashflow.