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Gem Diamonds sells 198 ct diamond for $10.6m

Clifford Elphick

Clifford Elphick

1st October 2014

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JOHANNESBURG (miningweekly.com) – London-listed Gem Diamonds on Wednesday said a 198 ct white diamond sourced from its Letšeng mine, in Lesotho, has been sold for $10.6-million.

This represented a price of $53 746/ct for the white type IIa exceptional diamond recovered at the end of July.

“The sale of this large, high-quality white diamond demonstrates the continued robust demand for large high-quality diamonds,” said CEO Clifford Elphick.

Letšeng, which was acquired by Gem Diamonds in 2006, is said to be the highest dollar-per-carat kimberlite diamond mine worldwide with its output of large, top-colour, exceptional white diamonds.

The mine has produced four of the top 20 largest white gem-quality recovered diamonds.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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