Gem Diamonds finds 122-carat stone at Letšeng mine

Africa-focused miner Gem Diamonds (LON: GEMD) has unearthed yet another massive white diamond at its prolific Letšeng mine in Lesotho, just days after another major find.

The 122.2 carat Type II white diamond was recovered over the weekend and is the eleventh greater than 100-carat precious stone mined this year at the operation, 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. 

The Letšeng mine, owned 70% by Gem Diamonds, 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 operation has a track record of producing large, exceptional white diamonds, which makes it the highest-dollar-per-carat kimberlite diamond mine in the world.