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"Exceptional white" diamond sells for $19.3million
09 September 2015
Gem Diamonds' Letseng Mine in Lesotho is well known for producing large, exceptional quality diamonds that consistently reach record-breaking prices. The 357-ct white diamond that was recovered in July of this year was no exception, with Gem Diamonds CEO Clifford Elphick reporting an achieved price of $19.2million during a tender in Antwerp, Belgium last week.
A press release on the Gem Diamonds website quotes Elphick as saying, "The Letšeng mine has produced two remarkable +300 carat diamonds during the year to date. The 314 carat diamond, which was recovered in May 2015 and sold into a partnership arrangement in June 2015, and the 357 carat diamond which was sold on tender in September 2015 for US$19.3 million. Both of these diamonds achieved top prices despite current market conditions, providing further evidence of the price resilience of Letšeng's large top quality diamonds."
Situated 3,100m (10,000ft) above sea level in the mountain kingdom of Lesotho, Letseng Mine is the world's highest diamond mine and has the highest dollar value per carat of any diamond mine worldwide. Acquired by Gem Diamonds in 2007, Letseng has produced a significant number of large diamonds in the last 8 years, including the 603ct Lesotho Promise and the 493ct Letseng Legacy.
[Photo source: www.gemdiamonds.com]