Our strategy


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Letšeng, our core diamond mine, is the highest achieving average US$ per carat kimberlite mine in the world. The operation is an open pit diamond mine with two kimberlite pipes, the Main pipe and the Satellite pipe, which are 17.0 and 5.2 hectares respectively.


At Letšeng, ore is processed through three treatment plants with an annual throughput of 6.4 million to 6.6 million tonnes. Although Letšeng’s grade recovery is low (averaging just under two carats per hundred tonnes), it is famous for producing large, high-value diamonds.

marketing and

Our diamonds produced are predominantly sold through a tender process by our sales and marketing operation in Antwerp, Belgium. Through mapping and analysis, the value of the Letšeng high-quality diamonds is determined and used to achieve the highest rough value through multiple selling channels. A selection of high-value diamonds are manufactured to capture additional value through polished sales.

Our strategy is underpinned by three key priorities which we believe will deliver maximum value for all stakeholders through our business cycle.

Maximum Value

Optimise operating model

Reduce diamond damage

Practise continuous improvement

Recovery of 262 diamonds > 20 carats and 16 diamonds > 100 carats
Operating costs per tonne at the Letšeng mine are among the lowest in the world
Business Transformation (BT) target of US$100 million by 2021 on track.
Net cash-positive position of US$34.6 million

  • Underlying EBITDA
  • Return on average capital employed
  • Basic earnings per share
  • Cash generated from operating activities
  • Ore tonnes treated
  • Carats recovered
  • > 20 carat diamond recoveries
  • Average US$ per carat achieved
and Maintaining

Promoting a culture of zero harm and responsible care

Adopt six UN sustainability goals:

  • No poverty
  • Good health and well-being
  • Clean water and sanitation
  • Decent work and economic growth
  • Reduced inequalities
  • Responsible consumption and production

GIA – Blockchain

Zero fatalities
Group-wide AIFR of 0.76, the lowest in 10 years
Zero major or significant community or environmental incidents
CSI expenditure of US$0.3 million
US$1.1 million spent implementing the COVID-19 response plan at Letšeng

  • AIFR
  • Fatalities
  • No major environmental or community incidents
  • Legal compliance
  • Sustainability
  • Community investment
for Our

Advancement of innovative technologies focusing on reducing diamond damage

Long term mine planning and optimisation

Assessing external growth opportunities

The Letšeng mining lease was successfully renewed in 2019 and implemented in 2020
Developed key relationships with stakeholders in order to mitigate the impact of political in-country instability at the operations
The sale of Ghaghoo was significantly delayed during the year due to the impact of COVID-19
New partners were identified to advance the pilot processing plant to detect diamonds within kimberlite and further enhancement and testing will continue in 2021

  • Capital expenditure
  • Waste tonnes mined
  • Mining in accordance with life of mine plan
  • Extending life of mine
  • Mergers and acquisitions