New York–Two large diamonds have been uncovered in Africa in as many weeks, putting an end to the drought of big diamond finds the industry seems to have been experiencing.
Mining company Gem Diamonds Ltd. announced the recovery of a 114-carat rough diamond from its Letšeng mine in Lesotho on Friday.
The company described it as a D color, Type II diamond of “exceptional quality.”
The Letšeng mine is known for producing large, high-quality white diamonds, selling at an average price of $2,000 per carat, according to Bloomberg, which is the highest in the industry.
It is the deposit responsible for producing the 357-carat chunk of rough that was cut into the 118.78-carat “Graff Venus,” the world’s largest flawless heart-shaped diamond.
Since Gem Diamonds acquired Letšeng in 2006, the mine has produced four of the 20 largest gem-quality white diamonds ever recorded, though last year it only recovered five stones bigger than 100 carats, less than half what it found the year prior.
The news of Gem’s find came on the heels of another big diamond find from a rival miner in Lesotho, a small kingdom within a country that’s located in the southeastern portion of South Africa.
On April 5, Firestone Diamonds said it had unearthed a 110-carat diamond, its biggest discovery so far, at its new mine in Lesotho.
The light yellow stone was discovered at the Liqhobong project, confirming its beliefs that the deposit has the potential for large diamonds, the company said.
Firestone has spent $185 million to build up the mine, which just began production in October.
In addition to its Liqhobong mine in Lesotho, Firestone also owns and operates the BK11 kimberlite mine in northern Botswana.