Gem Diamonds Limited (LSE: GEMD) is pleased to announce the recovery of a high quality 295 carat Type II white diamond from the Letšeng mine in Lesotho. Letšeng ranks in the top 10 global diamond producers by revenue. The large high value greater than 100 carat diamonds from Letšeng account for 70% to 80% of the Group’s revenue annually.
The Letšeng mine is located in the Maluti Mountains of Lesotho and is renowned for its recovery of large, high quality, exceptional Type II diamonds. Among these diamonds recovered are the 910 carat, Lesotho Legend, the 603 carat, Lesotho Promise, the 550 carat Letšeng Star and the 493 carat Letšeng Legacy.
Gem Diamonds is a leading global producer of high value diamonds. The Company owns 70% of the Letšeng mine in Lesotho. The Letšeng mine is famous for the production of large, exceptional white diamonds, making it the highest dollar per carat kimberlite diamond mine in the world.
Gem Diamonds continues to invest in its sales, marketing and diamond analysis operations to pursue ways of maximising revenue through a combination of marketing channels, including tenders, strategic partnerships and extractions for manufacturing to capture additional margins further along the diamond pipeline.
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