Letšeng Mine Yields 114ct. Yellow

RAPAPORT… Gem Diamonds has recovered its third yellow diamond over 100
carats this year, following a two-year dearth of stones in that hue and size.

The miner found the 114.2-carat rough on August 22 at its
Letšeng mine in Lesotho, it said Monday. The company unearthed a 135-carat,
yellow diamond from the deposit in June, and a similar 134-carat stone was brought up
in March. Prior to those recoveries, Letšeng hadn’t yielded a yellow diamond
over 100 carats since June 2017, when Gem Diamonds retrieved a 151.52-carat rough
at the site.

The discovery is also the sixth over 100 carats the miner,
known for its large-stone retrieval, has unearthed so far this year. These
include three white diamonds, weighing 123.5, 140 and 161 carats.

During the first six months of the year, the miner recovered three stones over 100 carats, compared to 10 of that size during the same period a year ago. The lack of large stones in comparison with last year has
hurt Gem Diamonds’ revenue. Sales of rough diamonds fell 44% to $94.5 million in the first half, with
the average price dropping from $2,742 per carat to $1,697.

Image: The 114.2-carat yellow diamond. (Gem Diamonds)