EditorsJan 16, 2026
Remembering Pete Yantzer for His Contributions and His Kindness Pete’s boundless curiosity extended beyond diamond cut and he was always eager to share his knowledge with others, no matter the topic.
SourcingOct 16, 2018
Gem Diamonds Unearths 357-Carat Brown Diamond
It marks the 13th diamond weighing more than 100 carats recovered by the company in 2018.
This 357-carat diamond is the 13th weighing more than 100 carats Gem Diamonds has recovered so far in 2018, a company record.
London—Gem Diamonds has recovered a 357-carat light brown rough diamond from its Letšeng mine in Lesotho, which the company says is the highest dollar-per-carat kimberlite diamond mine in the world.
The discovery is the 13th diamond weighing more than 100 carats that the miner has unearthed in 2018 and the second-largest this year, falling behind an exceptional quality 910-carat, D color Type IIa diamond in January.
In August, Gem Diamonds announced the recovery of a 138-carat Type IIa diamond of “top white color,” also from Letšeng.
That discovery, the 12th diamond find over 100 carats in 2018, set a new record for the company for most 100-plus carat stones found in a year.
Other important discoveries in 2018 include a 169-carat diamond of “top white color” in March and a 100.5-carat Type IIa diamond from Letšeng in August.
The London-based miner owns 70 percent of the Letšeng mine. “Record recoveries” from the mine coupled with the sale of “The Lesotho Legend” for $40 million March led to a strong first half of 2018 for the company.
Revenue increased 81% year-over-year, from $92.9 million in the first half of 2017 to $167.7 million in the first half of 2018.
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