Industry News by Nemesis

Gem Diamonds’ Letšeng Mine Yields 13ct. Pink

February 21, 2019

 

Gem Diamonds has recovered a high-quality, 13.33-carat pink diamond in Lesotho. 

The type I diamond was unearthed earlier this month at its Letšeng mine, and is the first stone above 10.8 carats the company has reported this year. It is the largest pink diamond the miner has recovered since 2011, when it retrieved a 30.68-carat stone. In December it found a pink stone weighing 8.53 carats. 

“This is looking like an extremely high-quality diamond...so it will be interesting to see what price per carat it achieves at the next tender in March,” the company told Rapaport News Wednesday.

The company is known for its ability to retrieve diamonds weighing more than 100 carats. Last year, it produced a record 15 stones of that magnitude, including the 910-carat Lesotho Legend, which it sold last March for $40 million. 

Gem Diamonds owns a 70% stake in the Letšeng mine, with the Lesotho government holding the remaining 30%.

Image: The 13.33-carat pink diamond. (Gem Diamonds)

 

Source: Rapaport

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