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World's 18th Largest Diamond 493-Carat Diamond Named “Letseng Legacy” sold in AntwerpTen Million dollars Diamond sold in Antwerp to Graff's company Safdico The Letsend Legacy will be sold through WWW International Diamond Consultants . The bidders will put the offers in a closed enveloppe, the diamond going to the highest bidder. By Danny Diamonds.5th November, 2007 GEM DIAMONDS LIMITED
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related sites and pages: Ten Million dollars Diamond sold in Antwerp to Graff's company Safdico
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About Gem Diamonds
Gem Diamonds is a diamond mining company with a balanced portfolio of a producing kimberlite mine, two producing alluvial mines, development projects and long-term prospects. Established in July 2005, Gem Diamonds is pursuing an accelerated growth strategy and aims to become one of the world’s leading diamond companies. Gem Diamonds currently has one producing kimberlite mine, Letšeng, in Lesotho, two producing alluvial mines - Cempaka in Indonesia and Mbelenge in the Democratic Republic of Congo (DRC), a kimberlite development project in Botswana, two development projects in the DRC, one in the Central African Republic and an option to develop the Chiri kimberlite concession in Angola. The Company recently made an offer to Kimberley Diamond Company’s shareholders to acquire their shares in this company, which owns the Ellendale Mine in north Western Australia, and which was approved by Gem Diamonds’ shareholders at an Extraordinary General Meeting on 16 October 2007. |
Gem Diamonds currently has a specific focus towards higher value diamonds, a segment of the market that its management believes will deliver superior long term returns.
For further information about Gem Diamonds visit www.gemdiamonds.com .
next text found at diamonds.blogs.com November 05, 2007
The world’s 18th largest diamond, weighing 493 carats, was discovered in at the Letseng-la-Terai Mine in the Kingdom of Lesotho on September 7. Letseng Diamonds recently named the diamond “Letseng Legacy.” The Letseng Diamonds Company is 70% owned by mining company Gem Diamonds and 30% owned by the government of Lesotho.
The Letseng Mine is famous for its large diamond discoveries and has now produced three of the world’s top 20 diamonds, most recently the 603-carat Lesotho Promise in August 2006 and now the 493-carat Letseng Legacy in September 2007. Production at the mine this year has price per carats yields of about 15 times higher than world average diamond prices, which reflects the larger size and higher quality of the stone recovered. The Letseng-la-Terai Mine also has the distinction as being the highest diamond mine in the world, located over 10,000 feet above sea level.
The Letseng Legacy will be sold on tender in Antwerp on November 14, 2007. The Lesotho Promise was sold at a similar tender in October 2006 for $12.4 million to Graff Jewelers, who then produced a collection of polished stones valued as high as $30 million. The Lesotho Brown, a 601-carat, discovered in 1961 and the 16th largest stone, was cut into 18 finished diamonds by Harry Winston jewelers who recently re-acquired the largest stone. While not a top twenty stone in terms of size, Letseng Diamonds also produced a 215-carat D-color flawless diamond in January 2007, which sold for $8.3 million.
LSE-listed Gem Diamonds has named the 493-ct white diamond, found at the
Letseng diamond mine in Lesotho, the Letšeng Legacy, the company reported.
The Letšeng Legacy ranks as the world's eighteenth largest rough diamond and
was recovered from Letšeng mine on the September 7.
Letšeng Diamonds, which is 70% owned by Gem Diamonds and 30% owned by the
government of the Kingdom of Lesotho, has now produced three of the world's
top 20 diamonds.
Two of these were recovered by Gem Diamonds in the last 13 months - the 603 ct
Lesotho Promise recovered in August 2006, and this 493 ct diamond.
The 493 ct Letšeng Legacy would be sold on tender in Antwerp by WWW
International Diamond Consultants on November 14, at a ceremony attended by
the Lesotho Minister of Natural Resources, the Minister Monyane
Moleleki, and the Gem Diamonds directors, Gem Diamonds said.
The Lesotho Promise, which was the fifteenth largest rough diamond, was sold
on tender in October 2006 for $12,4-million to Graff Jewellers.
The collection of polished diamonds from the Lesotho Promise is expected to
sell for between $25-million and $30-million.
In January 2007, Letšeng Diamonds also produced a 215 ct D-colour flawless
diamond which subsequently sold on tender for $8,3-million.
The Letšeng mine hosts two kimberlites - the main and the satellite pipes,
that have a combined diamond resource value of $4,7-billion.
It is renowned for producing some of the world's largest diamonds, which
attract the highest average price a carat of any kimberlite mine.
As reported in Gem Diamonds' interim results for the period ended June 2007,
the average price a carat achieved from the Letšeng satellite pipe was $1
894/ct, and $1 128/ct from the main pipe.
This is compared with the world average price of about $81/ct.
(belga) - De diamant werd op 7 september 2007 ontgonnen in de Letsengmijn in Lesotho. Letsengs Diamonds, dat voor 70 procent in handen is van Gem Diamonds Limited en voor 30 procent in het bezit van de overheid van het koninkrijk Lesotho, heeft al drie van de twintig grootste diamanten ter wereld geproduceerd, waaronder nu de "Letseng Legacy".
Woensdag 14 november wordt de "Letseng Legacy" in Antwerpen verkocht door WWW International Diamond Consultants. Dat gebeurt via een tender, waarbij potentiële kopers met gesloten briefjes een bod doen, waarna het goed aan de hoogstbiedende wordt toegewezen. De verkoop zal gepaard gaan met een korte plechtigheid, waarbij ook Monyane Moleleki, de minister van Natuurlijke Rijkdommen van Lesotho, aanwezig zal zijn.
In de Letsengmijn werd ook al de "Lesotho Promise" (foto) ontgonnen. Dat is de vijftiende grootste ruwe diamant ter wereld, die voor 12,4 miljoen dollar werd verkocht.
foto belga
18:17 - 07/11/2007
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