910ct. Lesotho Diamond Sells for $40M

RAPAPORT... Gem Diamonds has sold the Lesotho Legend, the 910-caratstone it unearthed at its Let??eng mine in January, for $40 million, the company said Tuesday. The miner claims the D color, type IIa stone -which it sold at tender in Antwerp to Samir Gems - is the fifth-largest gem-quality diamondever recovered. "We are delighted with the outcome of the sale of this iconicdiamond, which demonstrates the exceptional quality of the Lesotho Legenditself, as well as reaffirming the unique quality of the Let??eng diamondproduction," said Clifford Elphick, CEO of Gem Diamonds. A rise in Gem Diamonds' recovery of large stones in 2017 drove a 12% sales increase and a 14% jump in the average price per carat for the year. So far this year, the miner has found six stones above 100 carats at the asset in Lesotho.Gem Diamonds owns a 70% stake in the Let??engmine, with the Lesotho government owning the remaining 30%.