Jun 19, 2018 Last Updated 7:55 AM, Jun 12, 2018

Southern Africa-based diamond miner unearths another gem in Lesotho

diamond in bedrockABNABN - Gem Diamonds (LSE:GEMD) has announced the discovery of a 126-carat rock at its flagship Letšeng mine in Lesotho.

The high-quality find makes July the fourth consecutive month the company has unearthed a rock of high significance at the prolific mine.

The Southern Africa-based mining company said the rock was a 126-carat, D colour Type IIa diamond, and of a similar calibre to two diamonds which were unearthed at Letšeng only last month.

The June discoveries both measured over 100 carats, with the first being a 151.52-carat Type I yellow rock and the second a 104.73-carat D-colour Type IIa stone.

In addition, this spate of discoveries by Gem was initiated by the recovery of a 114-carat diamond in April, which was followed by the unearthing of a 80-carat D-colour Type-II diamond in May.

However, Gem’s latest discovery is significant as Type IIa diamonds contain very little or no nitrogen atoms, which makes them one of the most expensive stones.

The miner has found four of the 20 largest white gem quality diamonds ever recovered since acquiring Letšeng in 2006, which makes the mine the world’s highest dollar per carat kimberlite diamond operation.



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