Global diamond producer Gem Diamonds has recovered two large diamonds, each bigger than 100 carats, at its Lesotho mine in South Africa.
The company unearthed the 117 carat and 110 carat D colour Type IIa diamonds at the Letseng mine, Gem said in a statement on Monday 9 January. Type IIa diamonds contain very little or no nitrogen atoms and are the most expensive stones.
Gem Diamond Ltd.’s share price rose as much as 6% in London trading following the news announcement.
Analysts Des Kilalea and Tim Huff of investment bank Canaccord Genuity recently spoke to Diamonds.net and commented: ‘‘While we do not know the final value of the stones, it is likely that good-quality, type-IIa diamonds could fetch more than $25,000 per carat.”
This marks a great start to the year for the London-based company, following their successful 2017 as they discovered at least seven stones that were bigger than 100 caracts in 2015.
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