Lesotho Mine Yields 108-Carat Pink Diamond
Awaiting a name, the rare gem is one of the largest pink diamonds ever recovered.
Unearthed at the end of March and described by the company as a fancy intense pink, it is one of the largest pink diamonds ever recovered, the company said. It is substantially larger than the 47.81-carat “Pink Eternity” mined last fall, which previously held the record as the largest pink diamond unearthed at the Kao mine.
Like many other pink stones from Kao, the 108-carat diamond is a rare Type IIa stone. GIA describes Type IIa diamonds as having an “exceptionally pure chemical composition” with “negligible amounts of nitrogen or boron.”
The Lesotho Minister of Natural Resources Mohlomi Moleko said the stone is one of the most significant diamonds found to date in Lesotho.
Other notable stones recently recovered from the Kao mine include the 25.97-carat “Pink Dawn” in 2021, the 21.86-carat “Pink Palesa” in 2021, the 29.59-carat “Rose of Kao” in 2018, and the 36.06-carat “Pink Storm” in 2013.
Storm Mountain Diamonds said the new diamond has not been named, but there is a list of names submitted by the mining team in Lesotho up for selection.
Storm Mountain Diamonds has operated the Kao kimberlite diamond mine since 2010. Jointly owned by Storm Mountain Diamonds Ltd. and the Government of Lesotho, it is located in the Butha-Buthe District of Lesotho.
The kimberlite pipe is the fourth largest in southern Africa and the largest in Lesotho, which is home to a few diamond mines including Letšeng, known for its output of large diamonds.
The Kao mine sits at 2,500 meters above sea level and is one of the world’s highest gemstone operations, according to the Storm Mountain Diamonds website.
Discovered by Colonel Scott and his exploration team in the 1950s, Kao showed potential as a diamondiferous mine, though the grade and value of the diamonds were initially low.
Artisanal miners and organized cooperatives mined it until 2006, when Kao Diamond Mines Ltd. acquired the mining lease from the Lesotho government.
The company struggled with poor production, exporting only about 7,000 carats over three years, and eventually liquidated in 2009, with Storm Mountain Diamonds coming onto the scene the following year.
While the miner has yet to share when or how this newly discovered pink diamond will be sold, it’s an interesting time for the pink diamond market.
Nearly a decade ago, the 36-carat “Pink Storm” that put Kao on the map as a serious pink diamond producer sold for $15.4 million, or about $426,000 per carat.
Pink diamond sales have trended upward from there, but auction prices have fluctuated.
In 2022, the 11.15-carat internally flawless “Williamson Pink Star” set a new price-per-carat record when Sotheby’s Hong Kong sold it for $57.7 million, or $5.2 million per carat.
The following month at Christie’s Geneva, the “Fortune Pink,” an 18.18-carat fancy vivid pink, sold for considerably less, topping out at $28.8 million, or around $1.5 million per carat.
Now, many eagerly await to see the figure garnered by “The Eternal Pink,” the 10.57-carat internally flawless, fancy vivid purplish pink diamond that will headline Sotheby’s June 8 jewelry auction in New York.
Mined in Botswana in 2019, the diamond is projected to sell for at least $35 million, or $3.3 million per carat, the highest price-per-carat estimate placed on a diamond or gemstone offered at auction, according to the auction house.
Sotheby’s described it as “arguably the most significant pink diamond to ever appear at auction.”
The Latest
The report shows that couples are searching for vintage and antique rings, gold jewelry, pearls, and colorful pieces.
He’s remembered as a “font of passion,” leaving behind a legacy of dedication to his craft and community.
The first one will take place next month during the Jewelers of Louisiana’s and Mississippi Jewelers Association’s conventions.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The redesigned boutique features interactive displays and a workshop space for hands-on learning about watchmaking.
A combination of factors is driving growth in the industry despite the precipitous drop in prices across the board.
By the end of this year, SRK’s diamond manufacturing complexes will achieve net zero emissions, one of an impressive array of achievements.
Ho Brothers offers scalable solutions for the future of custom jewelry.
The company plans to invest $25 million in marketing initiatives to boost awareness around its namesake and licensed brands.
Optimism about the current state of the economy was offset by anxiety around inflation and the political environment.
The former WJA executive director is MFM’s new managing director.
DDG encourages retailers to educate customers on the positive impact of purchasing natural diamonds.
Highlighting the most iconic Tiffany collections, it’s inspired by the company’s late window designer, Gene Moore.
Jen Cullen Williams and Duvall O’Steen explore how jewelers can save time and money by using AI to analyze engagement and create content.
The retailer previously turned down an $8.4 billion offer in 2018.
The Florida store’s owner Miguel Gonzalez is retiring.
The lab stresses the importance of accurate identification, as the difference in price is “substantial.”
The brand also plans to expand its retail footprint from 138 to 200 stores over the next three years.
One is reserved for a NAJA member, the other for a non-member.
Longtime employees Carie Lehrke and Megan Mattice have received promotions.
Three guests joined National Jeweler and Jewelers of America to discuss trending time periods, spotting reproductions, and more.
Chris Clipper and Robert Lepere join the company with 50 years of combined experience.
The trendy, metallic earrings wink at classic spring colors.
JSA said a man and woman pulled the safe out of an Oakland jewelry store but couldn’t quite get it into their van.
The miner’s March auction generated $19 million.
Helen McCluskey will succeed H. Todd Stitzer when he meets his 12-year term limit in June.
“Chopard x Julia Roberts” showcases the first gems cut from the 6,000-carat-plus “Insofu Emerald."