(Ecofin Agency) - Gem Diamonds, operating in Botswana and Lesotho, reported it has paid over $18.3 million in taxes and royalties to both countries during the 2017 financial year which ended last December 31.

In a document published yesterday June 19, the company specified that Lesotho received a total of $18.1 million broken into $229,000 in taxes and $17.8 million in royalties. Meanwhile, Botswana were paid $230,000 in royalties only.

In Lesotho, Gem Diamonds operates Letšeng project, the highest dollar-per-carat diamond mine in the world; while in Botswana, it fully owns Ghaghoo mine that was placed on care and maintenance in February 2017. 

Louis-Nino Kansoun