Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

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
Petra Diamonds Finsch mine conveyor beltPetra in the Red as Mines Lose Value
Nov 17, 2020
Petra Diamonds saw heavy losses in the latest fiscal year...
De Beers Exec Jonathan Kendall to Retire
Dominion Nears Deal to Restart Ekati
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