World’s 5th Largest Diamond Found in Lesotho

A diamond believed to be the fifth largest of gem quality ever found, has been discovered in Lesotho. According to miner Gem Diamonds, the rock could be worth as much as $40 million.

The company unearthed the D-colour stone at the Letseng mine in the landlocked southern African country and described the 910-carat find as a gem of “exceptional quality”.

“Since Gem Diamonds acquired Letseng in 2006, the mine has produced some of the world’s most remarkable diamonds, including the 603-carat Lesotho Promise,” Gem Diamonds chief executive, Clifford Elphick, said in a statement:

“However, this exceptional top quality diamond is the largest to be mined to date… This is a landmark discovery.”
Ben Davis, a mining analyst at Liberum Capital, speculated in a research note to investors that the diamond could be worth as much as $40 million.

Gem Diamonds’ shares in London were up 14% from the market open to 0.92 a piece.

Image: The 910 carat diamond found at the Letseng mine in Lesotho. [Online image: Gem Diamonds] (2018) sourced on 15 January 2018 from https://www.timeslive.co.za/sunday-times/business/2018-01-15-one-of-the-biggest-diamonds-in-history-found-in-southern-africa/

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