The high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Gem Diamonds Digs Up Two 100-Plus Carat Rocks
The miner recovered the stones from Lesotho’s Letšeng mine.

New York--Gem Diamonds Limited has started the year off with a bang.
The miner announced Monday that it has recovered two diamonds weighing over 100 carats each.
The 110- (pictured below) and 117-carat finds are both D color, Type IIa stones from the Letšeng mine in Lesotho.
Gem Diamonds owns 70 percent of the mine, which is renowned for its large, high-quality white diamonds.
The company acquired its stake in the mine in 2006, and since then, it has produced four of the 20 largest gem-quality diamonds ever found, making Letšeng the highest dollar per carat kimberlite diamond wine in the world, the miner said.
The announcement marks the continuation of big finds from 2017, a year in which Gem Diamonds mined seven rough diamonds weighing 100 carats or more, all but one of which were gem-quality.
The largest dug up in 2017 weighed 202 carats.
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