One of the largest diamonds in the world has been discovered in Africa – a rock of 442 carats to $ 18 million, according to one expert.
Gem Diamonds Ltd. discovered the gem at its Letseng mine in Lesotho, the company announced Friday.
The recovery of this remarkable 442 carat diamond, one of the world’s largest gem-quality diamonds won this year, is a further confirmation of the caliber of the Letseng mine and the ability to consistently produce large diamonds of to produce high quality, ”Gem Clifford Elphick, CEO of Diamonds, said in a statement.
552-KARAT YELLOW DIAMOND FOR A CANADA, LARGEST EVER IN NORTH AMERICA
According to Bloomberg, which first reported the news, the precious stone could be worth as much as $ 18 million, with a research note from analyst Edward Sterck of BMO Capital Markets.
“Part of the proceeds from the sale of this diamond will be used to fund a special community project, as agreed with our partner, the Government of Lesotho,” said Elphick.
Lesotho is a landlocked country in southern Africa, surrounded by South Africa. It has a population of just 2 million and has been an independent country since 1966, after gaining freedom from Britain.
Although the diamond industry has suffered as a result of the COVID-19 pandemic, the demand for larger stones is more stable, given the rarity of these gemstones, Bloomberg reported.
In 2018, Gem Diamonds found a 910-carat diamond, known as the “Lesotho Legend” at the Letseng mine, which eventually sold for $ 40 million.
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Also in 2018, miners in Canada found a rough yellow 552-carat diamond, the largest diamond ever discovered in North America.
