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Gem Diamonds Sells 13-Carat Pink Lesotho Rough For $8.75M

Gem Diamonds, which owns the Letšeng mine in Lesotho and the Ghaghoo mine in Botswana, announced that it had sold a 13.33-carat pink rough diamond for $8.75 million at tender in Antwerp.

The UK-headquartered diamond miner, which has marketing and manufacturing facilities in Belgium, said the stone was unearthed at the Letšeng mine in February this year. The sale price translates to $656,933 per carat and represents a per-carat record for any stone from Letšeng.

The Letšeng mine is famous for its large, top-colour white diamonds, which have contributed to making it the highest dollar-per-carat-earning mine in the world. The mine produced the ‘Lesotho Legend’, the fifth largest diamond ever unearthed, which sold for $40 million last year.

The sale comes only a day after Gem Diamonds had cited uncertainty over the global diamond industry and withheld its full-year dividend for 2018 despite declaring a record profit of $47 million.

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