Gem Diamonds Discovers 100-Carat Diamond at Letšeng

Gem Diamonds Limited has unearthed a 100-carat, white, Type IIa diamond at the Letšeng mine in Lesotho.
Discovered on June 22, the stones is the third weighing more than 100 carats to be recovered from Letšeng since May.
Gem Diamonds last month sold a 164-carat D color Type IIa diamond for $9 million into a partnership arrangement, and found a 103-carat yellow diamond, sold at tender.
Letšeng diamond exports this month total $22 million, with an average price per carat of $2,087 compared to $1,599 per carat in the first three tenders of goods from the mine this year.
The company also announced that four new secondary and tertiary crushers have been successfully installed on schedule and on budget, and are now operational at Letšeng. Mining has started as planned in the higher value, higher grade Satellite pipe.
It is hoped that this will result in improved revenues as the build-up of Satellite pipe ore contribution to overall production ramps up for the rest of 2013.
Gem Diamonds CEO, Clifford Elphick said: “Letšeng has recovered a third rough diamond over 100 carats within the last two months. Mining will steadily increase in the higher value and higher grade Satellite pipe in H2 of this year, and it is anticipated that revenues will therefore show a resulting increase.”