She was remembered as a creative and generous woman of faith, who also had a sweet tooth.
98-Carat Diamond Found at Lesotho Mine
Gem Diamonds recovered the stone and also recently sold a 114-carat diamond and a nearly 9-carat pink from the same mine.

London--Gem Diamonds’ recovery of larger diamonds from the Letšeng mine in Lesotho has picked up a bit, with the mining company finding two fairly big pieces of rough this month.
On May 3, Gem Diamonds recovered an 80.58-carat D color Type II diamond from the mine.
On May 23, it announced the recovery of an even bigger stone--a 98.42-carat diamond of the same quality. (Type II diamonds contain no nitrogen or boron impurities and are the most pure diamonds, chemically speaking.)
The mining company will sell both diamonds in June.
The announcement of the recovery of the 98-carat diamond came as the company provided its trading update for the first quarter ended March 31.
During that period, Gem Diamonds, which owns a 70 percent stake in the Letšeng mine in Lesotho and 100 percent of the currently mothballed Ghaghoo mine in Botswana, reported that it sold 39,950 carats of diamonds for a total of $65.4 million in the first three tenders of 2017.
That’s an average per-carat price of $1,636, up 13 percent from the $1,444 per carat achieved in Q4 2016.
Eleven diamonds went for more than $1 million each, generating revenue of $20.4 million.
This includes an 8.65-carat pink diamond that sold for $1.4 million or $164,855 per carat. That is the sixth-highest price Gem Diamonds has gotten for a Letšeng diamond.
The company also sold the 114.38-carat Type II, D color diamond found in April into a partnership.
In the first quarter, the company recovered 25,479 carats of diamonds, down 4 percent from the fourth quarter 2016 and 11 percent from the same period last year.
The pick-up in recovery of larger stones is good news for the London-based miner that’s sole current operating mine depends on the recovery of big, valuable stones that fetch a high per-carat price. (By comparison, larger diamond mining companies with multiple operations of varying qualities, like De Beers, will sell millions of carats in a quarter but achieve a lower price per carat.)
Last year, Gem Diamonds lost money, with the drop in the number of diamonds over 100 carats recovered impacting cash flow and revenue.
Commenting on the first quarter results, CEO Clifford Elphick said, “Letšeng has recovered larger, better quality diamonds during the period, and it is encouraging that during April and May, there was a notable improvement in the size and quality of diamonds recovered at Letšeng with the dollar per carat
As previously announced, geologist and former Rio Tinto executive Harry Kenyon-Slaney will become the chairman of Gem Diamonds on June 6, replacing the retiring Roger Davis.
The Latest

The “Volume 7” bridal catalog features best-selling engagement rings, trending styles, and a new section highlighting anniversary bands.

The New York-based brand is set to launch a limited-time offering for the holiday season at Holt Renfrew in Toronto.

Move over neck mess, the ear story is the way to make a layering statement today.


Holiday sales growth is expected to slow as consumers grapple with inflation and tariff-related uncertainty.

Jamie Turner Designs is among the winners of the local “Austin Shines” contest, hosted by Eliza Page, a jewelry store in Austin, Texas.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

The red and azure colorway is one of many fun enamel pairings offered, bringing whimsy to the classic style of a monogramed signet ring.

A trade deal with Switzerland seems probable, but reaching an agreement with India remains a challenge, David Bonaparte said.

The manufacturer is adding 1,400 chemical vapor deposition (CVD) reactors to its growing facility in India.

The jeweler to the stars has worked with Drake, A$AP Rocky, Tyler the Creator, and other celebrities.

The Scarsdale, New York-based jeweler donated a professional-grade watch cleaning machine.

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.
They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

He previously served as co-chair of the nonprofit’s beneficiary committee.

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.

The diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.

Emmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.

The private equity firm has a plan to revive the mall staple.

The “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.

Claudio Pasta will take the lead at the Italian fine jewelry brand, succeeding company founder Licia Mattioli.

The new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.

The miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.

The California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.