RAPAPORT… Gem Diamonds has recovered a 138-carat stone from its Letšeng
mine in Lesotho, bringing the company’s total number of 100-carat-plus
discoveries this year to a record 12.
The type lla rough diamond has top-white color, the miner
said Wednesday. With this find, the company has surpassed the 11 exceptionally large diamonds it unearthed in 2015.
Earlier this year, Gem Diamonds recovered the 910-carat
Lesotho Legend, which the company claimed to be the fifth-largest rough stone in
history. It sold for $40 million in March.
Gem Diamonds’ recovery of large stones has boosted its
financial results. Revenue jumped 43% year on year in the first half of 2018, with a 33%
increase in the average price per carat.
The miner owns 70% of the Letšeng asset, with the government
of Lesotho holding the remaining 30%.
Letšeng Yields 12th Huge Stone in Record Haul
The Bottom Line
- Gem Diamonds recovered a 138-carat type IIa top-white diamond from Letšeng, marking its 12th 100-carat-plus stone this year.
- This surpasses the previous record of 11 large stones found in 2015 at the same mine.
- The surge in large diamond recoveries contributed to a 43% revenue increase and a 33% rise in average price per carat in H1 2018.
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