Gem Diamonds Unearths Two +100-Carat Diamonds at Letseng

Gem Diamonds has made a significant discovery at its Letseng mine in Lesotho, unearthing its fourth and fifth +100-carat diamonds of the year, IDEX Online reports. The UK-based miner recovered two high-quality Type IIa D color diamonds, weighing 117.47 carats and 110 carats.

Earlier this month, Gem Diamonds found a 101.96-carat Type IIa diamond, with previous notable discoveries including a 163.91-carat yellow diamond in July and a 122-carat D color Type II white diamond in March. The mine is primarily owned by Gem Diamonds (70%) and the Lesotho government (30%).

Letseng reported a 19% decline in revenue from rough sales in the first half of 2023, partly due to fewer high-value diamond recoveries. Since 2008, the mine’s long-term average has been eight +100-carat recoveries annually, but last year saw only four.

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