Gem Diamonds finds another giant

7th Sep 2010 07:29

Gem Diamonds has pulled another huge rough diamond from its Let?eng mine in Lesotho. The 196 carat rough white diamond was recovered on 24 August 2010. It is expected to achieve a substantial price per carat as preliminary examinations indicate it could produce top colour and top clarity polished diamonds, Gem said. Let?eng has been a consistent source of giant diamonds with three of the world's twenty largest recorded diamonds recovered there since Gem took it over in 2006.This latest discovery is smaller than these, but could still be very lucrative for Gem. The 603 carat Lesotho Promise, recovered in August 2006, sold for $12.4m; the 493 carat Let?eng Legacy, recovered in September 2007, sold for $10.4m; and the 478 carat Light of Let?eng, recovered in September 2008, sold for $18.4m. "Let?eng continues to live up to its reputation as a unique producer of exceptional diamonds and the recovery of this remarkable 196 carat white diamond reinforces its position as one of the great mines in the diamond industry," Gem's chief executive Clifford Elphick commented.