LETSENG YIELDS ANOTHER HUGE DIAMOND – THIS TIME YELLOW
Gem Diamonds, which operates the Letšeng diamond mine in Lesotho, has uncovered a 114.2-carat yellow diamond. The gem, recovered on August 22, is the sixth diamond weighing more than 100 carats recovered so far in 2019.
Recently, Gem Diamonds published its report for the first half of 2019. The miner sold 55,714 carats during the period, achieving an average price of $1,697 per carat – 10% more than the average price for H2 2018. During the period, the miner sold a 13.32-carat pink diamond for a Letšeng record of $656,934 per carat, and recovered three diamonds greater than 100 carats. It sold 15 diamonds for more than $1 million each.
In the report, Gem Diamonds remained optimistic about the price of large diamonds, despite pressure on smaller goods, saying it expects “Letšeng’s unique, ultra-high-quality goods to be less vulnerable over time to market pressures”.