Bereng Mpaki
LETŠENG Diamond mine has recovered two massive stones weighing 245 and 102 carats on the same day.
The recovery of the two gems, one a high-quality 245-carat Type II, white diamond and the other a high-quality 102-carat Type II, white diamond was announced by majority shareholder, Gem Diamonds.
A leading global diamond producer of high-value diamonds, Gem Diamonds owns 70 percent of the Letšeng mine while the government holds the remaining 30 percent.
“Gem Diamonds Limited is pleased to announce the recovery of a high quality 245 carat Type II, white diamond,” Gem said in a statement this week.
“On the same day, the company also recovered a high-quality 102-carat Type II, white diamond, from the Letšeng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.”
The Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, making it the highest dollar- per-carat kimberlite diamond mine in the world.
In May this year, the mine recovered two massive diamonds weighing 370 and 255 carats. Both stones were Type II, white diamonds.
The mine also seen the prices of its rough diamonds increasing during the first half of 2021 despite the Covid-19-induced global economic slowdown.
According to Gem Diamond’s half-year report published on 2 September 2021, Letšeng mine achieved an average price of US$1886 per carat during the period under review, as compared to US$1707 per carat achieved during the first half of 2020.
The report further said that the highest price achieved during the period was US$119 886 per carat for a 3, 35-carat pink diamond.
Commenting on the performance, Gem diamonds chief executive officer (CEO) Clifford Elphick said they were pleased with the market resilience demonstrated by Letseng’s diamonds.
“We are pleased with the results achieved during the period and to see a continued strong demand for Letšeng’s high-quality diamonds and the positive impact on prices achieved,” Mr Elphick said.
The report said Gem Diamonds would continue stringently applying a wide range of Covid-19 protocols, health and safety measures and other precautions to protect its employees and contractors at its operations.
Meanwhile, Gem Diamonds said it will this month release a trading update for the period 1 July 2021 to 30 September 2021. The update will be released on 28 October 2021.
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