Gem Diamonds unearths 123 carat rough diamond in Lesotho  

Gem Diamonds lowers 2022 guidance despite solid Q3

Letšeng is the world’s highest dollar per carat diamond mine.

Gem Diamonds has announced the recovery of a 123.2 carat type 11 white diamond at its Letšeng mine in Lesotho.  

This is the eighth 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 ten largest diamond operations by revenue. At 3,100 metres (10,000 feet) 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.  

Source: mining.com

Petra Diamonds shares jump after another discovery at Cullinan

Cullinan-mine-100-carat-D-Colour-Type-II

South Africa’s Petra Diamonds has found a 100.83 carat gem quality diamond at its iconic Cullinan mine in South Africa.

The D colour, Type II diamond follows the recent recovery of a 6.12 carat Type II blue stone, also at Cullinan.

The company has piled up debt after building a new plant and digging deeper at its flagship Cullinan diamond mine.“The recoveries demonstrate the prevalence of these types of stones in the Cullinan orebody as well as the ability of the mine’s plant to recover the full spectrum of diamonds,” Petra said.

The company, which appointed last month former gold miner Richard Duffy as chief executive, said that both stones would be included in its upcoming March tender.

Shares climbed as much as 10.5% after the announcement, closing at 21.2p in London on Friday.

Petra has been seeking to turn around its fortunes after piling up debt to expand Cullinan, where the world’s biggest ever diamond was found in 1905.

Source: mining.com