Gem Diamonds Sells 164-Carat Diamond From Letšeng For $9 million
June 01, 13
(IDEX Online News) – Gem Diamonds Ltd has sold a 164-carat D color, Type IIa diamond recovered from the main pipe at the Letšeng mine on April 30 for $9 million. 
A view of the Letseng mine.
The diamond is expected to produce top color and top clarity polished diamonds and has been sold into a profit sharing arrangement for $54,911 per carat.
Letšeng Diamonds will also benefit from a significant share of the downstream polished margin from the sale of the polished diamonds.
Further work focusing on reducing diamond damage at Letšeng continues and in addition to the 164-carat diamond, a 103 carat diamond was also recovered from the main pipe and both diamonds were undamaged.
The 103-carat diamond, which is not of the same high quality as the 164-carat diamond, will be sold at the company's next tender in June.