Two birds with one stone or two stones in one week for Gem Diamonds

Just a week after announcing their last +100-cts diamond find, Gem Diamonds has announced its eleventh and twelfth +100-cts stone of this year. Usually, the Letseng mine in Lesotho is responsible for eight such diamonds a year, 2023 being an off-year with ‘only’ five finds. The newest one is a 126.21-ct Type II white diamond. 

Letseng is therefore the highest dollar-per-carat kimberlite diamond mine in the world. Gem Diamonds recently reported increased revenues of 78 million dollars for the first half of 2024, driven by the recovery of larger stones, and has raised its production guidance for the year. 

The majority, being 70 per cent, is owned by Gem Diamonds, and the remaining 30 per cent is owned by the Basotho government.

Photo credits: Gem Diamonds