Gem Diamonds 198ct white diamond sells for GBP6.5m

The 198ct stone mined at Letseng was sold at Gem Diamonds' September tender.

Letšeng stone said to represent "robust demand" for valuable diamonds.

Gem Diamonds, owner of the Lesotho-based Letšeng mine, has announced the sale of its 198ct Type II D colour diamonds for US$10.6 million (£6.59m).

The stone’s recovered was announced on August 5 2014, and was sold at the company’s recent Letšeng tender.

The business is known as a leading producing of high-value diamonds, with the Letšeng mine known for producing large, white diamonds. Since the mine was acquired by Gem Diamonds in 2006, it has produced four of the top 20 largest white gem-quality diamonds ever recovered.

Story continues below
Advertisement

Gem Diamonds chief executive officer Clifford Elphick said: "The sale of this large, high quality white diamond demonstrates the continued robust demand for large high quality diamonds.”

In June this year, Gem Diamonds sold a 164ct D colour diamond recovered at Letšeng on April 30. It was into a profit-sharing arrangement for US$9 million (£5.9m).

Authors

*

Related posts

Top