Gem Diamonds has unearthed a 101.26-carat gem quality White Type II at its 70%-owned Letšeng Diamond Mine in Lesotho.
The diamond was recovered on September 28, 2023.
This is the third diamond of over 100 carats recovered by the company this year.
It unearthed a 163.91-carat yellow diamond on June 22 and a 122-carat D-color Type II white diamond on March 5, 2023.
Gem Diamonds said at the end of August that a decrease in the number of large, high-value diamonds recovered, combined with market pressure, has negatively impacted the average dollar per carat and revenue achieved during the first half of 2023.
The company achieved an average value of $1 373 per carat in the first half of 2023, compared to $1 745 per carat a year earlier.
“Our focus remains on stabilising our plants to improve large diamond recoveries and to critically review all operational and capital expenditure,” said company chief executive Clifford Elphick in a statement accompanying the first half results.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
