RapNet


Rapaport News

 

Mining

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Letšeng Mine Yields 114ct. Yellow

Stone is Gem Diamonds’ third of that color over 100 carats this year.
Aug 26, 2019 5:37 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Gem Diamonds has recovered its third yellow diamond over 100 carats this year, following a two-year dearth of stones in that hue and size.

The miner found the 114.2-carat rough on August 22 at its Letšeng mine in Lesotho, it said Monday. The company unearthed a 135-carat, yellow diamond from the deposit in June, and a similar 134-carat stone was brought up in March. Prior to those recoveries, Letšeng hadn’t yielded a yellow diamond over 100 carats since June 2017, when Gem Diamonds retrieved a 151.52-carat rough at the site.

The discovery is also the sixth over 100 carats the miner, known for its large-stone retrieval, has unearthed so far this year. These include three white diamonds, weighing 123.5, 140 and 161 carats.

During the first six months of the year, the miner recovered three stones over 100 carats, compared to 10 of that size during the same period a year ago. The lack of large stones in comparison with last year has hurt Gem Diamonds’ revenue. Sales of rough diamonds fell 44% to $94.5 million in the first half, with the average price dropping from $2,742 per carat to $1,697.

Image: The 114.2-carat yellow diamond. (Gem Diamonds)
Tags: 114.2-carat, Gem Diamonds, Letšeng, Letšeng mine, Rapaport News
Similar Articles
AlrosaAlrosa Identifies Potential New Diamond Resources
Dec 09, 2019
Alrosa has identified three new exploration sites that couldpotentially...
KP Gives CAR More Export Freedom
Zimbabwe Eyes Overseas Rough Tenders
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