In a remarkable find, Gem Diamonds Ltd. (LON: GEMD) announced the discovery of a substantial 169.15 carat Type II white diamond at their Letšeng mine in Lesotho, marking it as the fourth major diamond over 100 carats recovered at the site this year.
The Letšeng mine, renowned for its sizable and high-quality diamonds, has once again made headlines with its latest significant find. This year alone, the mine has produced several notable diamonds including a 113 carat and a 295 carat white Type II diamond, along with a 139 carat boart diamond. Type IIa diamonds, known for their purity and absence of nitrogen in their crystal structure, rank among the most sought-after and valuable gemstones globally. Conversely, boart diamonds, which are of lower quality, are typically used in industrial applications as abrasives.
Located at an impressive altitude of 3,100 meters (10,000 feet) above sea level, the Letšeng mine is not only one of the highest diamond mines in the world but also stands among the top ten in terms of revenue. This high-altitude locale is known for yielding diamonds that are larger and possess exceptional quality, making it a pivotal asset in Gem Diamonds’ portfolio.
As Gem Diamonds continues to capitalize on the prolific grounds of the Letšeng mine, the mining industry watches eagerly for what other remarkable gems might be uncovered in this extraordinary location.