Gem Diamonds has announced the recovery of a high-quality 80 carat, D color Type II diamond from the Letšeng mine in Lesotho. Today's announcement follows the April 7 of the recovery of a 114-carat diamond from Letšeng. This is another welcome recovery and may well signal a reversal of the miner's recent fortures, as Gem Diamonds in 2016 recovered fewer diamonds larger than 100 carats than usual, which had a "disappointing impact" upon revenue and cash flow. Demand and prices achieved for the large, high quality diamonds recovered from Letšeng have remained firm.
Commenting on this recovery CEO Clifford Elphick said: "Although this 80 carat diamond is not of the very large size for which Letseng is renowned, it is one of the highest quality diamonds recovered at the Letseng mine and is entirely undamaged making this a significant recovery."