Saturday, July 20, 2024

Gem Diamonds Discovers 123-Carat Gem at Letšeng Mine

Gem Diamonds (LSE: GEMD) has announced the recovery of a 123.2-carat type IIa white diamond from its Letšeng mine in Lesotho. This marks the eighth diamond exceeding 100 carats found at the mine in 2024.

Type IIa diamonds, highly prized for their rarity and purity, contain minimal to no nitrogen atoms in their crystal structure, making them the most valued and collectible precious gemstones. In contrast, boart diamonds are of lower quality and primarily used in powder form as an abrasive.

The Letšeng mine, one of the world’s ten largest diamond operations by revenue, sits at an elevation of 3,100 meters (10,000 feet) above sea level, making it one of the highest diamond mines globally. The mine is renowned for producing large, high-quality white diamonds, earning it the distinction of being the highest dollar-per-carat kimberlite mine in the world, according to Gem Diamonds.

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