Tuesday, November 2, 2010

185-carat white diamond recovered in Lesoto mine

A "remarkable" 185-carat white rough diamond has been recovered in Losotho's Letseng mine, the Gem Diamond company announced Tuesday.

“Early examinations indicate that this rough diamond will yield top color and top clarity polished diamonds and is thus expected to achieve a substantial price per carat,” Chief Executive Officer Clifford Elphick said in statement quoted by 'Bloomberg.'

Only last year, the London-based diamond company recovered a 196-carat stone from the same mine. And according to a September, 2010 report by analyst Alison Turner of Panmure Gordon and Co., that rough diamond may be worth almost $12 million,

The Letseng mine, 70% of which is owned by Gem Diamonds, has been a more-than-steady supplier of impressive rough diamonds. According to Gem, three of the 20 largest diamonds recovered over the past four years were found in the Lesoto mine.

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