Gem Diamonds (LSE: GEMD) has announced the recovery of a 123.2-carat type II white diamond at its Letšeng mine in Lesotho.
This is the eighth stone greater than 100 diamond found at the operation in 2024, the company said.
Type IIa diamonds are the most valued and collectable precious gemstones, as they contain either very little or no nitrogen atoms in their crystal structure. Boart diamonds are stones of low quality that are used in powder form as an abrasive.
The prolific Letšeng mine is one of the world’s 10 largest diamond operations by revenue. At 3,100 metres above sea level, it is also one of the world’s most elevated diamond mines.
The Letšeng mine is famous for the production of large, exceptional white quality diamonds, making it the highest dollar-per-carat kimberlite mine in the world, Gem said.
Shares in Gem Diamonds closed 3% higher on Wednesday in London at 12.98 pence (23¢) apiece, valuing the company at £18.1 million. They’ve traded in a 52-week range of 7.67 pence to 20 pence.
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