Storm Mountain Diamonds (SMD), jointly owned by Namakwa Diamonds and the government of Lesotho, has recovered a 108.39-carat fancy pink diamond at its Kao mine in the Southern African country.
The diamond is one of the largest pink roughs ever found in Africa, which include the “Lulo Rose” 170-carat precious stone recovered by Australia’s Lucapa Diamond (ASX: LOM) in Angola last year.
SMD said the diamond was recovered from a 1.5-tonne sample of kimberlite ore that was processed at the mine’s plant.
It is a Type IIa stone, which means it has very few impurities and a high level of clarity, the company said.
The 108.39-carat fancy pink diamond. Credit: Storm Mountain Diamonds
The Kao Mine is one of the largest diamond mines in Lesotho and produces about 400,000 carats of diamonds annually.
Coloured diamonds, especially pink ones, have repeatedly set record-setting prices in recent years as they are rarer than white ones. While they come in many hues, pink and blue are the most coveted.
Prices for the pink variety are expected to soar to new highs in the coming years as Rio Tinto closed its iconic Argyle mine. The operation was the world’s biggest diamond mine and the main global source of high-quality pink gems.
The rare Type IIa diamond is said to be one of the largest pink diamonds ever recovered. Credit: Storm Mountain Diamonds.
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