Gem Diamonds

Gem Diamonds appoints Mike Brown as non-executive chairman with effect from the annual general meeting; he succeeds Harry Kenyon-Slaney. Brown has been a non-executive director since January 2018, served as chair of the sustainability committee and brings more than 40 years of experience in the commodities sector, including 30 years in the diamond industry. He will resign his membership of the audit committee, take over as chair of the nomination committee, remain chair of the sustainability committee and is considered independent under the UK Corporate Governance Code. Gem Diamonds holds a 70% stake in the Letšeng mine in Lesotho. » Altro su de.investing.com

Gem Diamonds reports a 36% decline in revenue to 98.4 million USD for 2025 and a net loss of 63.4 million USD (loss per share 0.68 USD). Causes were continued price weakness for rough diamonds, higher inventories, lower quality mix and fewer large stones sold; an impairment of 77.5 million USD on Letšeng contributed significantly to the result. Adjusted EBITDA was 3.9 million USD; the company launched a "Business Resilience Programme" in H2 2025 and plans to renew credit facilities before they expire in December 2026, but also expects a continued weak market in 2026. » Altro su de.investing.com

Non‑executive director Mazvi Maharasoa will relinquish her mandate at Gem Diamonds effective 31 December 2025 to pursue new roles. The company announces a reorganisation of its committees and the appointment of a dedicated non‑executive director for workforce matters; details will be provided before 1 January 2026. Gem Diamonds says the changes are intended to ensure compliance with the UK Corporate Governance Code and to strategically optimise the composition of the board. » Altro su de.investing.com