The company unearthed three of the 15 diamonds over 100 carats it found in 2018 in Q4, but carat recovery dropped by 17% to 29,523 ct in the period.
Gem Diamonds Mining News
Miner is ending 2018 on a high note after finding another two large diamonds from its Letšeng mine in Lesotho, the world’s highest dollar per carat diamond operation.
So far in 2018, Gem has found thirteen diamonds over 100 carats, two of which were found in the third quarter.
The company that digs the world’s most valuable diamonds may soon become the one that also finds the biggest.
The 10 rough, larger-than-100-carats diamonds produced at Letšeng led the hike.
With the discovery, the miner has already exceeded the total number of diamonds of over 100 carats recovered in 2017.
The company's revenue jumped a whopping 174% in the first quarter of the year thanks to strong demand for its rough rocks and the sale of a 910-carat diamond, the fifth-largest ever found.
It's a 169-carat, top white colour Type IIa rock diamond dug up at the company's flagship Letšeng mine in Lesotho.
Gem Diamonds found the 910-carat diamond, named "The Lesotho Legend," in January.
Latest discovery is a 152-carat, top white colour Type IIa diamond, dug up at the company's flagship Letšeng mine in Lesotho.
The largest diamond recovered in the first test run was 6.6 carats.
The company, which last month found the world’s fifth-biggest diamond in history at its flagship Letšeng mine in Lesotho, sold 21% more rocks in last quarter of 2017.
The 149-carat, D colour, Type IIa rough diamond is the fourth high quality stone of over 100 carats the company has recovered so far this year at its Letšeng mine.
Massive find is believed to be the fifth biggest gem-quality diamond ever found
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.