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Letšeng Yields 12th Huge Stone in Record Haul

Aug 15, 2018 10:20 AM   By Rapaport News
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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%.
Tags: 100-carat-plus, Gem Diamonds, Lesotho, Lesotho Legend, Letšeng, Letšeng mine, Rapaport News
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