Industry News by Nemesis

Gem Diamonds Unearths 115ct. Rough

May 22, 2018

 

Gem Diamonds has recovered a 115-carat rough stone from its Letšeng mine in Lesotho, it said Tuesday. 

The white, type IIa stone is the ninth over 100 carats the miner has found this year. In comparison, the company unearthed a total of eight stones of that magnitude last year, and five in 2016. 

In January, Gem Diamonds recovered the 910-carat Lesotho Legend, which it claimed was the fifth-largest rough stone found in history. The miner sold the diamond in March for $40 million, or $43,912 per carat. 

The company, which is known for producing large diamonds from its Letšeng asset, reported strong demand for special-size stones — those above 10.8 carats — in the last two quarters.

 

Source: Rapaport

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