More high quality diamonds
JOHANNESBURG - London-listed Gem Diamonds said yesterday it had recovered two large diamonds.
The company said it had recovered high quality 117 and 110carat, D colour Type IIa diamonds from the Leteng mine in Lesotho.
Meanwhile, Lucapa Diamond Company, an Australian-listed diamond explorer, also announced the recovery of two large diamonds from the Lulo Diamond Project in Angola.
Bloomberg reported that Gem Diamonds stock rose as much as 8.2 percent in London trading. It’s a good start to the year following Gem’s discovery of at least seven stones bigger than 100 carats in 2017 and five the year before. It recovered a dozen diamonds bigger than 100 carats in 2015.
Recent finds don’t compare with the largest at Letseng, renowned for the quality and size of its stones. Gem sold a 357-carat stone for $19.3 million in 2015 and in 2006 found the 603-carat Lesotho Promise, according to Bloomberg.
- BUSINESS REPORT