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GEM DIAMONDS FINDS HUGE 114-CARAT DIAMOND AT LETŠENG

This is the second diamond bigger than 100 carats it has found this year

By Staff Writers

Maseru, March 10 (The Night’s Watch) – Gem Diamonds Limited has announced the recovery of a high-quality white diamond weighing 114 carats – the second diamond bigger than 100 carats it has recovered this year from its Letšeng Diamond Mine in Mokhotlong.

In February, Gem Diamonds recovered an exceptional 183 carat white Type IIa diamond from Letšeng.

On the same day (February 3), the company also recovered two different high quality diamonds – one of 89 carats and the other of 70 carats, from the same mine.

Last Friday, Gem Diamonds announced that between February 28, and March 3, 2020, a number of white top quality gem diamonds, and a pink, were recovered from Letšeng.

Those were a 56 carat, 88 carat, 53 carat, 13 carat pink, 114 carat and 33 carat.

Recently, Gem Diamonds said that it increased its revenue for the last quarter of 2019 (ended December 31) by 41 percent quarter-over-quarter, selling $51.3 million in rough diamonds.

In addition, average price achieved for the period jumped 21 percent quarter-over-quarter to $1,713 per carat. Carats sold during Q4 increased 17 percent to 29,945 (Q3 2019: 25 631).

Owned by the London-listed Gem Diamonds and the Lesotho government, Letšeng Diamond Mine is the highest dollar per carat kimberlite diamond mine in the world.

It is Lesotho’s most successful diamond mine operation. NW

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