Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Gem Diamonds Unearths 183ct. Rough

Berenberg expects stone to fetch over $5 million.
Feb 4, 2020 5:19 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

Gem Diamonds has recovered a white diamond weighing 183 carats at its Letšeng mine in Lesotho, the first stone over 100 carats the miner has found this year.

The company unearthed the type IIa, “exceptional” stone on Monday. On the same day, it also discovered two other large, high-quality diamonds from the deposit, weighing 89 and 70 carats, it said Tuesday.

The 183-carat diamond showed signs of breakage, according to analysts at investment bank Berenberg. However, the bank still expects the stone to fetch more than $5 million.

The last stone over 100 carats Gem Diamonds retrieved was a yellow, type I diamond weighing 114 carats, which it found in December.

The miner’s stock rose 7% in early trading Tuesday following the announcement.

Image: The 183-carat diamond. (Gem Diamonds)
Tags: Berenberg, Gem Diamonds, Letšeng mine, Rapaport News
Similar Articles
Rio Tinto 150Rio Tinto to Sell Final Argyle Specials
Oct 21, 2020
Rio Tinto will launch a tender of large rough diamonds, including...
Diamond Rebound to Boost Botswana Growth
Dominion in Flux as CEO Resigns
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us