Gem Diamonds’ Letšeng mine gem fetches record prices

Letseng mine employeeGem Diamonds Limited, the LSE listed company has announced the sale on tender of a rare 12.47 carat blue diamond and an 82 carat exceptional quality white diamond, both recovered at its Letšeng mine.

The 12.47 carat blue diamond fetched a record price for the Letšeng mine of US$ 603,047 per carat, a total of US$ 7.5 million. The 82 carat white diamond fetched US$ 59,173 per carat, a total of US$ 4.8 million.

Gem Diamonds CEO, Clifford Elphick stated that their Lesotho mine will continue to recover high quality stones.

“Letšeng continues to achieve such outstanding prices for its exceptional diamonds and we continue to expect recovery of such high quality diamonds as mining at Letšeng continues to focus more on the higher grade, higher value Satellite pipe towards the end of 2013 and into 2014,” Elphick said.

The recovery of these two diamonds was announced on 30 September 2013.The blue diamond was recovered from the Main pipe, whereas the 83.8 carat white diamond was recovered from the Satellite pipe.

“As mining focuses on the higher value and higher grade Satellite pipe during the latter part of this year, it is expected that Letšeng will continue to produce more of these exceptional diamonds,” Elphick said at the time

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