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London-listed Gem Diamonds has recovered a high-quality 295-carat Type II white diamond from the Letšeng mine, located in the small southern African country of Lesotho. This mine is known for producing large, exceptional-quality diamonds and is among the world’s top ten diamond mines by revenue. This latest find is a significant recovery for Gem Diamonds, which owns a 70% stake in the mine.

The Letšeng mine sits high in the Maluti Mountains of Lesotho at an elevation of 3,100 meters. The mine is famous for the large and high-clarity diamonds it produces, with the average selling price for Letšeng diamonds consistently exceeding $2,000 per carat. The mine’s high elevation and unique geology result in the production of over 50% Type II diamonds, which are chemically pure and often lacking nitrogen or boron impurities that can affect a diamond’s colour.

The recovery of this latest 295-ct stone is a major find that will significantly boost Gem Diamonds’ earnings for the year. Diamonds of this size and quality are extremely rare and highly coveted by luxury jewellery brands.

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