Gem Diamonds unearths 123-carat stone in Lesotho  

Letšeng is the world’s highest dollar per carat diamond mine. (Image from: Gem Diamonds’ presentation.)

Gem Diamonds (LSE: GEMD) has announced the recovery of a 123.2-carat type II white diamond at its Letšeng mine in Lesotho. This is the eighth greater than 100 diamond found at the operation in 2024, the company said.  

Type IIa diamonds are the most valued and collectable precious gemstones, as they contain either very little or no nitrogen atoms in their crystal structure. Boart diamonds are stones of low quality that are used in powder form as an abrasive.

The 123.2-carat type II white diamond was recovered on June 29, the eighth stone over 100 carats found in 2024.

The prolific Letšeng mine is one of the world’s ten largest diamond operations by revenue. At 3,100 metres (10,000 feet) above sea level, it is also one of the world’s most elevated diamond mines. 

The Letšeng mine is famous for the production of large, exceptional white quality diamonds, making it the highest dollar per carat kimberlite mine in the world, Gem Diamonds said.