This year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
198-carat rough diamond surfaces in Lesotho
Gem Diamonds Ltd. made its largest gem-quality rough diamond find to date this year when it pulled a 198-carat piece of rough from its Letšeng mine in the Kingdom of Lesotho last month, the latest in a line of 100-carat-plus stones found this year.

London--Gem Diamonds Ltd. made its largest gem-quality rough diamond find to date this year when it pulled a 198-carat piece of rough from its Letšeng mine in the Kingdom of Lesotho last month, the latest in a line of 100-carat-plus stones found this year.
Roughly the size of a large strawberry, the stone is a Type IIa diamond and is described by Gem Diamonds as an “exceptional white, high-quality diamond (that) displays no florescence.” A spokeswoman for the mining company said they cannot comment on what size of polished diamond the stone will yield nor the estimated price it will fetch.
However, Martin Potts, a mining analyst with London-based financial advisory firm finnCap, told National Jeweler that he has seen a photo of the stone and, even prior to cleaning, it looks “good.” He estimates the stone will sell for $12 million to $15 million.
He adds that it is the third largest rough diamond declared this year, topped only by the 258.69-carat stone Lucara Diamond Corp. sold in July from the Karowe Mine in Botswana and the 239-carat stone it is offering in its next tender. In addition, the 198-carat white diamond is the largest gem-quality stone to emerge from Letšeng since August 2011, when the mining company found a 553-carat rough diamond, Potts said.
The unearthing of this exceptional piece of rough is one of a number of diamonds larger than 100 carats found in 2014.
In addition to the two diamonds noted above, Gem Diamonds found a 162.06-carat Type IIa diamond and a 161.74-carat Type I stone earlier this year, also at Letšeng.
Petra Diamonds Ltd. discovered an exceptional 122.52-carat piece of blue rough at the Cullinan mine in South Africa in late spring, and Potts told Reuters at the time that this stone could set a new world record price for a rough diamond. A 507-carat white diamond sold for $35.3 million in February 2010 is the current rough world-record holder.
In addition to these four 100-carat-plus stones, Lucapa Diamond Co. announced in January that it found a 95.45-carat Type IIa diamond at its Lulo Diamond Concession in Angola.
Gem Diamonds bought Letšeng in 2006 and since that time the mine has produced of the 20 largest white gem-quality diamonds ever found. Commenting on this latest find, Gem Diamonds CEO Clifford Elphick said “The recovery of this large, high-quality white diamond
The mining company operates Letšeng in a 70-30 partnership with the Lesotho government and also owns the Ghaghoo mine in Botswana.
The Latest

As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.

Discover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.

When investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.

The entrepreneur and “Shark Tank” star will share his top tips for success.


Two existing executives have been given new roles.

Meredith Tiderington, an electrical engineering student, was selected for the award.

More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.

It will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”

From design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.

The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.

Her new role is director of strategic initiatives.

The designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.

On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.

The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.

The actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.

The company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."

Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.

Those born in June have a myriad of options for their birthstone jewelry.

The diamond industry veteran has been named its senior sales executive.

The company plans to raise the prices of select watches to offset the impact of tariffs.

Between tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.

Designed by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.

However, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.

The pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.

Sponsored by Stuller

It was featured in the miner’s latest sale, which brought in $24.8 million.