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Gem Diamonds announced that the mining lease for its Leteng mine had been renewed for 10 years by the Lesotho government.
The lease was renewed with immediate effect for a period of 10 years with an exclusive right granted to Leteng to renew the mining lease for a further period of 10 years, the company said.
The royalty payable in respect of diamonds sold by Leteng was increased from 8% to 10% with effect from 3 Oct 2019, it added.
At 8:40am: (LON:GEMD) Gem Diamonds Ltd share price was +0.5p at 72.5p