FOR IMMEDIATE RELEASE 23 July 2025 OPERATIONAL AND COST MANAGEMENT MEASURES IN RESPONSE TO MARKET CONDITIONS Considering the prolonged weakness in global diamond prices, compounded by a weak US dollar and ongoing US tariff uncertainties, Letšeng Diamonds (Pty) Ltd (the “Company”) is implementing decisive measures to conserve cash, protect shareholder value and the sustainability of the operation. While the Company has met its production targets, it has not been immune to the sustained pressure on rough diamond prices and adverse exchange rate movements. The Company has comprehensively reviewed its short-term mine plan and cost base to significantly reduce operational expenditure. Key short-term cashflow optimisation measures include: • Mining activities: The mine will continue to operate both plants at existing treatment volumes whilst waste mining volumes in both the Main and Satellite pits have been reduced to a minimum for an initial 12-month period without compromising the longer-term life of mine plan. • Workforce Rationalisation: The Company regrets that an approximately 20 percent reduction in workforce may be necessary to align with the scaled-back waste mining operations, and other necessary operational changes. Engagement with employees and relevant stakeholders has commenced and is ongoing to ensure that the rationalisation process is managed responsibly and transparently. The Company remains committed to its long-term strategy of producing exceptional quality diamonds and is confident that the measures being implemented will position the Company for a strong recovery when market conditions improve. The Company will continue to monitor market developments closely and provide further updates as appropriate. For any further information regarding this statement please contact the office of Letšeng Diamonds Chief Executive on +266 2222 1800. This media statement is an official notice issued by Letšeng Diamonds.
Read MoreOn Friday, 2nd May 2025, Letšeng Diamonds donated sanitary towels to Thamae LECSA Primary. This marks the third consecutive year that Letšeng Diamonds has provided essential sanitary products to support the health and well-being of female students as part of our Corporate Social Responsibility and Investment programme. 119 girls benefitted from this year’s donation. In recognising the importance of menstrual hygiene management in promoting the health, education, and dignity of young girls, Letšeng ensures that these students have access to the much needed sanitary towels. The donation aims not only to alleviate the financial burden on their families but also to empower girls to attend school without interruption. The donation was met with great appreciation from the school administration as well as the parents and students, who expressed their gratitude for the vital supplies that help them manage their menstrual health with dignity.
Read MoreLetšeng Diamonds hosted its Annual Charity Golf Tournament on 04 April 2025 at the Maseru Golf Club. The successful event drew passionate participants from various sectors who shared a commitment to making a positive impact in our community. The day was filled with friendly competition, camaraderie, and a collective spirit of giving, ending with a Prize Giving Ceremony that celebrated both the achievements on the course and the generosity of our supporters. We are thrilled to announce that through this tournament, we have received significant pledges from individuals and companies to support the upcoming CSRI Projects in the district of Mokhotlong. Together, we will work closely in consultation with the District Administrator of Mokhotlong to identify and select projects that focus on the development and betterment of life for the people of Mokhotlong.
Read MoreLetšeng Diamonds wishes to warn the public about the ongoing misleading job recruitment claims on social media. We want to make the public aware that all legitimate job vacancies related to Letšeng Diamonds are exclusively advertised on our official social media pages, our website, and in local newspapers. In light of recent reports of fraudulent job offers purportedly from Letšeng Diamonds, we urge the public to exercise caution and vigilance. Any job recruitment that does not originate from our official channels should be treated as fake. We are committed to maintaining the integrity of our hiring process and protecting our community from potential scams. We encourage interested candidates to visit our official website and follow our social media accounts for the most accurate and up-to-date information regarding job opportunities. The public is further made aware that Letšeng does not sell jobs and nobody should pay anything to anyone to get employment at Letseng Diamonds. If you encounter any suspicious job offers or recruitment messages claiming to be from Letšeng Diamonds, please report them to the appropriate authorities. Letšeng Diamonds values transparency and integrity in all our operations, and we appreciate the public’s cooperation in ensuring a safe and trustworthy recruitment process. For more information please contact: Communications office info@letseng.co.ls or contact Mr Makalang Mokere on +266 58441394
Read MoreIn a heartfelt effort to commemorate the Basotho Bicentennial, Letšeng Diamonds visited the Maloraneng Health Post to provide essential health services to the community and its neighbouring areas. This initiative, which took place on the 26th November 2024, was part of a broader commitment to enhance community well-being and promote health awareness. The Letšeng Diamonds team, comprising a medical doctor, lab technician, and skilled nurses, with support staff from Molika-liko Health centre, offered a range of health services including Outpatient Department (OPD) consultations, Cervical and Prostate Cancer screenings, as well as health checks for children under five and oral hygiene education. This comprehensive approach aimed to address critical health issues and empower community members with knowledge about their health. As a token of appreciation for their participation, every attendee received oral hygiene accessories, including toothpaste and toothbrushes, to encourage good dental practices within the community. This initiative aligns with the Rata oa heno campaign spearheaded by the Ministry of Tourism, Sports, Arts and Culture, thus, this initiative emphasizes the importance of health and wellness in the Basotho community. Letšeng Diamonds remains committed to supporting the health and well-being of the communities in which it operates. Through initiatives like this, the company aims to foster a healthier future for all Basotho citizens.
Read MoreOn November 1, 2024, Letšeng Diamonds proudly hosted an annual Charity Golf Tournament at the Maseru Golf Club. The event was notably attended by the industry leaders, Directors of the Letšeng Board and other golf enthusiasts had two main objectives, to create a platform for socializing and networking in a relaxed environment and most importantly to contribute towards charity. All the companies and individuals that were invited contributed towards charity. Our colleagues from Gem also participated and won one of the prizes of the day. In total, LSL 425,600.00 was raised, thanks to the contributions and pledges that were made on the day. This generous funding will directly benefit the development of projects aimed at uplifting the disadvantaged and vulnerable communities of Mokhotlong. The selection of the project to be funded will be done in consultation with Mokhotlong District Administrator, the Chief and the Councillor. Construction of classrooms, purchase of school uniforms for students and payment of school fees are examples of projects that were implemented from the previous golf day’s proceeds. Letšeng Diamonds remains committed to making a positive impact in the communities, and we thank all participants and sponsors for their generous support.
Read MoreLetšeng Diamonds is pleased to announce the recovery of an exceptional 212.91ct Type II White Diamond recovered at the Letšeng mine. This is the thirteenth greater than 100 carats recovered in 2024.
Read MoreLetšeng Diamonds is pleased to announce the recovery of a remarkable 126.21ct Type II White Diamond on the 6th September 2024. This is the twelfth greater than 100 carat diamond recovered at the Letšeng Mine in 2024.
Read MoreLetšeng Diamonds supported the Hololo Development Foundation’s Winter Games Challenge, that took place in Butha Buthe, Tsime from 17th August to 1st September, 2024. The Winter Games Challenge, organized by the Hololo Development Foundation, featured a variety of sports activities such as netball, horse racing and both ladies and gentlemen’ soccer tournament. The purpose is to encourage participation among local youth and foster a spirit of teamwork and competition. The games are further intended to advance youth and community development using sport in the areas surrounding Hololo. Letšeng Diamonds recognizes the importance of supporting initiatives that empower the communities and provide opportunities for the youth to showcase their abilities.
Read MoreLetšeng Diamonds is pleased to announce the recovery of a 122.20ct Type II White Diamond. This is the eleventh greater than 100 carat diamond recovered at the Letšeng Mine this year.
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