Africa-focused miner Gem Diamonds (LSE: GEMD) has unearthed yet another large white diamond at its prolific Letšeng mine in Lesotho.
The 126.21 carat type II white diamond is the 12th 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 10 largest diamond operations by revenue.
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.
At 3,100 metres above sea level, it is also one of the world’s most elevated diamond mines.
Shares in Gem Diamonds closed 0.5 pence lower on Wednesday in London at 11 pence, valuing the company at £16.1 million ($28.5 million). They’ve traded in a 52-week range of 7.67 pence to 17.95 pence.
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