This marks the company's 11th discovery of a diamond exceeding 100 carats this year, continuing an impressive streak.
This latest find, announced on 5 September, comes just days after the UK-based miner revealed its 10th +100-carat diamond on 28 August. Historically, Letšeng mine has averaged around eight such stones per year, but 2023 was an outlier, with only five recovered.
Gem Diamonds has capitalized on this success, reporting increased revenues of $78 million for the first half of 2024. The company attributed this surge in part to its boosted production of large diamonds and raised its production guidance for the remainder of the year.
The Letšeng mine, 70% owned by Gem Diamonds and 30% by the government of Lesotho, is renowned as the highest dollar-per-carat kimberlite diamond producer in the world, underscoring the significance of these frequent high-value discoveries.
