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Home The BlogAnother 100 Carat Diamond Discovery for Gem Diamonds


Another 100 Carat Diamond Discovery for Gem Diamonds

This week, South African mining company - Gem Diamonds announced a new discovery in the form of a 100ct diamond at their Letseng mine. The diamond is a white Type lla, which is extremely rare in the world of diamonds and near flawless in clarity, with hardly any impurities. This is also the third diamond of this grand size discovered by the company in two months. In may they discovered two diamonds – a 164 carat white, flawless diamond and a 103 carat yellow diamond. The flawless diamond was sold for a huge $9 million, so there’s big hopes for this new discovery. The Letseng mine has produced four of the world’s top 20 diamonds, including the famous 603ct Lesotho Promise that sold for a whopping $12.4 million in 2007. The stone is also marked as the 15th largest diamond in the world. The discovery came in good time for the diamond mining company, as their share price has fallen 42.26% over the last 12 months due to a decrease in 2012’s diamond prices. Lets hope this 100ct diamond will increase the company’s revenues – keep posted for the stones sale price.