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LETŠENG RECOVERS 120 CARAT TOP QUALITY DIAMOND

By Tšepo Thibankhoe

Maseru, Nov 21 (The Night’s Watch) – Gem Diamons Limited on Wednesday recovered a 120 carat top quality type IIa diamond from its Letšeng Diamond Mine in Mokhotlong.

A 125 carat diamond of low quality was recovered on Tuesday, the company announced on Thursday.

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.

In May last year, the mine recovered a 115-carat top white colour Type IIa diamond.

It was the ninth diamond of over 100 carats recovered that year alone, already exceeding the total number of diamonds of over 100 carats recovered in 2017.

In its trading update for third quarter of 2018, on October 31, Gem Diamonds announced that it recovered two greater than 100 carat diamonds during the period from July 1 – September 30, 2018.

After period end, on October 15 2018, a 357-carat diamond was recovered, bring the number of diamonds greater than 100 carats recovered during 2018 to 13.

The mine also recovered 35,755 carats during quarter three, up 27 percent from second quarter.

It sold eight diamonds for more than US$1.0 million each, generating revenue of US$21.0 million during the period.

In February this year, Letšeng recovered a rare, high value pink 13, 33-carat diamond which affirmed the mine’s staggering global reputation.

The pink colour Type I diamond, which was recovered on 7 February this year, follows the recovery of another 4, 06-carat, pink diamond in 2018. NW

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