Gem Diamonds Finds 254-Carat Diamond at Letšeng
Gem Diamonds has recovered a huge, 254-carat Type II white diamond from its Letšeng mine in Lesotho, IDEX Online reports. The 254-carat diamond is the first 100+ carat diamond found since a 126.9-carat type II diamond in January. In 2020, diamonds recovered at Letšeng achieved an average value of $1,908 per carat.
During 2020, despite Covid-related closures of Letšeng between March and May, Gem Diamonds saw an increase in both revenue and profits in 2020.
Since Gem Diamonds acquired the mine in 2006, Letšeng has yielded more than 60 white gem quality diamonds of over 100 carats. In 2008, the 478-carat Light of Letšeng was bought by Graff for $18.4 million. In 2018, an exceptional quality D color Type IIa diamond from Letšeng sold for $40 million at tender in Antwerp