Experience Watchmaking & Jewelry Repair

World’s 5th largest diamond was just mined from Letseng mine in the kingdom of Lesotho in South Africa. The diamond weighs 910 carats and was tested to have very few impurities, which is indicative that it could fetch a high value. Value of this diamond can only be ascertained after estimating how many large polished stones can be cut from it. However, estimates suggest that it could be worth $43 million.

The company’s official press release gave very little information regarding its value and if there was any buyer at this moment. However, this discovery lifted Gem’s shares by 15% on the prospect ending this year in a positive cash position. Interestingly, the Letseng mine is located at 10,000 ft. above sea level, making it the highest mine in the world. Also, the Letseng mine has produced some of the world’s biggest and purest diamonds which is attributed to its high altitude location.

 

 

 

 

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