World's fifth-largest diamond found in Lesotho

A 910 carat gem diamond has been recovered in a Lesotho mine, the size of which makes it the fifth largest gem quality diamond ever found.

This is according to a statement from Gem Diamonds, a British-based diamond company listed on the London Stock Exchange.

Gem Diamonds has operations in both Botswana, where it owns Ghaghoo mine, and Lesotho, where it owns 70 percent of the Letšeng Diamond Mine.

The 910 carat gem diamond is the largest discovered at the Letšeng Diamond Mine since 2006, when the 603 carat Lesotho Promise was discovered. Although very large diamonds have been given specific names, this 910 carat gem that some analysts believe could attract as much as $40 million is yet been named.

This glittering giant weighs in at 910 carats, and is probably worth tens of millions. https://t.co/xoV5cnN5vJ

— New York Times World (@nytimesworld) January 15, 2018

“Since Gem Diamonds acquired Letšeng in 2006, the mine has produced some of the world’s most remarkable diamonds, including the 603 carat Lesotho Promise. However, this exceptional top quality diamond is the largest to be mined to date,” said Clifford Elphick, chief executive officer of Gem Diamonds.

“This is a landmark recovery for all of Gem Diamonds’ stakeholders, including our employees, shareholders and the government of Lesotho, our partner in the Letšeng mine.”

The mining sector in Lesotho contributes up to 10% of the country’s gross domestic product and unlike many countries where mineral wealth has fuelled conflict, Lesotho has managed to use proceeds from mining diamonds to spur socio-economic development.