Let??eng Pink Sells for Almost $9M

RAPAPORT... Gem Diamonds has announced the sale of a 13.33-carat pinkdiamond, discovered in February at its mine in Lesotho, for $8.8 million. The tender sale, which took place in Antwerp, represents a record per-caratprice of $656,933 for the company, it said Thursday. The result builds on a successful 2018 for Gem Diamonds, which morethan doubled its profits to $46.6 million, it reported. The miner said this was due to a recordnumber of large stones recovered at the Let??eng mine, with its haul of diamondsweighing more than 20 carats rising 21% to 257. Last year, it sold 44 diamonds for more than $1 million,achieving a total of $137.2 million. This includes the Lesotho Legend, whichgarnered $40 million last March. Despite its positive financialresults, Gem Diamonds failed to declare a dividend for 2018, saying itspriority was strengthening its financial position given the uncertainty of thecurrent diamond market.Image: The pink diamond. (Gem Diamonds)