Massive find is believed to be the fifth biggest gem-quality diamond ever found
Gem Diamonds Mining News
The rival companies have unearthed three diamonds larger than 100 carats each.
It's a high quality 202-carat, D colour type IIa rock found at Letšeng mine, the world’s highest dollar per carat kimberlite diamond operation.
The company has found six diamonds larger than 100 carats in the first nine months of the year, compared with just four throughout 2016.
Over the last nine years 66 record-breaking and other noteworthy diamonds were recovered, and 61 of those have been found within the last five years.
Finding follows the recovery of five other diamonds of over 100 carats so far this year at the company's flagship Letšeng mine, in Lesotho.
Draft bill gives government first option to buy unusually large diamonds found in the country's mines, such as the world's second-biggest 1,109 carat diamond discovered by Lucara two years ago.
The miner said it remains cautious about the state of the global market for both rough and polished diamonds, noting that financing challenges persist.
Lucara Diamond’s Lesedi La Rona is said to face challenges other rock never do, including its multi-million-dollar price tag and a risky polishing process that can take months or years.
The 126-carat is the latest in a string of major discoveries Gem Diamonds have made at Letšeng this year.
The last time Gem Diamonds had had made a significant discovery at its Letšeng mine before April this year was in 2015.
The D-colour Type-II diamond is one of the highest-quality stones to come out of the company’s Letšeng mine.
The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.
But some believe main challenge will be falling prices and wholesalers difficult access to credit to purchase rough diamonds.
The prime minister of the tiny African nation fled the country over the weekend after what he called a military coup.