Tag Archives: Gem Diamonds

The Jewelry Insider

November 3, 2010

There’s been a deluge of diamond delights for the jewelry hound to bite into lately – from the Wittelsbach/Hope display at the Smithsonian to the rare pink diamond that’s sure to set price records at Sotheby’s later this month.

So it was almost too much to read about the whopper of a rough diamond found in the small African kingdom of Lesotho this week. Like eating a pint of New York Super Fudge Chunk is too much after a pizza delivery. Or watching Joan Rivers on E! is too much after ….actually, I’ll just leave it at Miss Joan.

But I don’t MAKE the diamond news, folks – I just drool over it.

So, listen. Can you imagine unearthing a 185-carat diamond and just, like, handing it over to your boss at the mine? Well, some poor Lesotho subject did just that last week – and Gem Diamonds got to boast of their second big diamond find in as many months.

According to miningweekly.com, Gem Diamonds’ Letšeng mine has produced a number of exceptional diamonds since they acquired the operation in 2006 – including the 603-ct(!) Lesotho Promise, the 493-ct Letšeng Legacy and the 478-ct Light of Letšeng that sold for $12.4-million, $10.4-million and $18.4-million, respectively.

Pass the New York Super Fudge Chunk, Mary. I need to sit down.

This particular stone is expected to yield top color and top clarity once polished, the company said in a release – and could yield between $7 million and $10 million.

I’ll have a large pepperoni, extra cheese – – and…yeah, throw in the cheesy bread….

The Jewelry Insider

September 23, 2008

One whopper of a diamond was unearthed this month at Gem Diamonds’ Letseng mine in Lsotho, a small kingdom inside South Africa. The company announced the 478-carat rough gem has the potential to become one of the largest round-cut diamonds in the world. My hands are shaking…

The diamond, which has not yet been named, is the 20th largest ever to be mined and could yield a 150-carat polished stone of the highest quality. That would dwarf the 105-carat round-cut Koh-i-Noor diamond seized by Britain from India in the 19th century, which is now part of the Crown Jewels.

Gem Diamonds reports that two bigger stones – 603 and 493 carats – were found in the same mine in 2006 and 2007, respectively and a 601-carat diamond was mined there in 1960. Good grief!

Clifford Elphick, Gem Diamonds’ chief executive said, “Letseng continues to reward its shareholders with the production of these significant diamonds and to confirm its position as one of the great mines in the diamond industry. With a further 45 years of life remaining, we expect Letseng to make history for many years to come.” Indeed.

We’ll be tracking the progress of this little beauty to see if things shape up as expected. It beats following the stock market.