Gem Diamonds, a mining company listed on the London Stock Exchange (LON: GEMD), has made a significant discovery at its renowned Letšeng mine in Lesotho—a 126.2-carat white diamond. This marks the twelfth diamond over 100 carats found at the site this year, continuing Letšeng’s legacy of producing some of the world's most remarkable stones.

The newly unearthed diamond is a Type IIa stone, known for its high value and rarity due to the minimal presence of nitrogen in its crystal structure. Type IIa diamonds are highly sought after for their clarity and brilliance.

Letšeng, in which Gem Diamonds holds a 70% stake, is not only one of the largest diamond producers by revenue but also one of the world’s most elevated mining operations, located at 3,100 meters (10,000 feet) above sea level. Known for yielding large, high-quality diamonds, the mine has earned a reputation as the highest-dollar-per-carat kimberlite diamond producer globally.

This discovery underscores Letšeng’s consistent track record of uncovering exceptional white diamonds, solidifying its position as a leading source of high-value gemstones.