Large 442-carat Diamond Worth 18M Unearthed in Lesotho Mine - South Africa
Updated: Sep 3
August 23, 2020 By: Rebecca Brando
On Friday (Aug 21) Gem Diamonds Limited (LSE: GEMD) unearthed a giant high quality 442 carat Type II diamond from its Letšeng mine in Lesotho, South Africa. According to Bloomberg, experts estimate the diamond around to be worth $18 million or more.
Clifford Elphick, CEO of Gem Diamonds, commented:
“The recovery of this remarkable 442 carat diamond, one of the world’s largest gem quality diamonds to be recovered this year, is further confirmation of the calibre of the Letšeng mine and its ability to consistently produce large, high quality diamonds. It is also a fitting testament to the dedication of the employees in the Group to have recovered such an extraordinary diamond, whilst at the same time maintaining strict adherence to health and safety precautions during the global Covid pandemic. A portion of the proceeds from the sale of this diamond will be used to fund a special community project, as agreed with our partners the Government of Lesotho” said Elphick in a press release.