Gem Produces Another 100+ Carat Diamond

Gem Diamonds has mined another large diamond weighing over 100 carats at the Letšeng diamond mine in Lesotho, as reported by Diamond World.

 

According to the report, Gem’s latest discovery is a 122.20-carat, Type II white diamond. This is the 11th diamond over 100 carats found at the Letšeng mine this year, which typically produces an average of eight large diamonds annually.

 

Gem recently announced that its revenues for the first half of 2024 rose to $78 million, thanks to the relatively high number of 100+ carat diamonds discovered this year.

 

The Letšeng mine is 70% owned by Gem and 30% by the Government of Lesotho, and it boasts the highest average price per carat of diamonds in the world.

 

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