Gem Diamonds has discovered a high-quality 295-carat type II white diamond from its 70%-owned Letšeng mine in Lesotho.
This is the first diamond weighing more than 100 carats recovered by the company this year.
It discovered a 117.47-carat type IIa white diamond on October 29, 2023, which was its fourth diamond weighing over 100 carats retrieved that year.
On September 28, 2023, the miner found a 101.26-carat gem-quality White Type II, as well as a 163.91-carat yellow diamond on June 22 and a 122-carat D-colour Type II white diamond on March 5, 2023.
Gem Diamonds said last November that a decrease in the amount of huge, high-value diamonds recovered, combined with market pressure, had reduced the average dollar per carat and revenue achieved in the third quarter of 2023.
During the quarter, it recorded an average price per carat of $1,310, up from $1,317 the prior year.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
