Gem Diamonds has discovered a 117.47-carat white type IIa rough diamond at its 70%-owned Letšeng Diamond Mine in Lesotho.
The diamond was discovered on October 29, 2023.
This is the fourth diamond weighing over 100 carats recovered by the company this year.
It recovered a 101.26-carat gem-quality White Type II on September 28, 2023.
Gem found a 163.91-carat yellow diamond on June 22 and later discovered a 122-carat D-color Type II white diamond on March 5, 2023.
It said last August that there had been a noticeable decline in the recovery of large, high-value diamonds. This, along with market pressure, has had a detrimental effect on the average value per carat and overall revenue achieved in the first half of 2023.
In the first half of 2023, Gem's average carat value reached $1,373, showing a dip from the previous year's $1,745 per carat.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
