Gem Diamonds Sells Two 160+ Ct Diamonds

Gem Diamonds has sold two 160+-carat diamonds recovered from the Letšeng mine in Lesotho at the end of January.

 

The miner said a 162.06-carat type II stone sold for $11.1 million ($68,687 per carat) and a 161.74-carat type I diamond sold for $2.4 million ($14,636 per carat).

“These two rough diamonds … both achieved top prices, in accordance with their respective color, clarity and expected polished yield, at Letšeng’s February tender.”

Both diamonds were recovered in largely undamaged condition.

Gem Diamonds holds a 70-percent stake in the Letšeng mine as well as the Ghaghoo mine, currently in development in Botswana. Since Gem Diamonds’ acquisition of Letšeng in 2006, the mine has produced four of the top-20 largest white gem quality diamonds recorded.