Africa-Press – Lesotho. Gem Diamonds has sold the Lesotho Legend, the 910-carat stone it unearthed at Letšeng Diamond Mine in January for M476 million. The company said yesterday.
It further stated that the D color type lla stone sold at an open tender in Antwerp Belgium to Samir Gems is the fifth-largest gem-quality diamond ever recovered.
The Chief Executive Officer (CEO) of Letšeng Diamonds, Mr Kelebone Leisanyane, expressed his delight regarding the sale of the legendary diamond. “This demonstrates the exceptional quality of our mine and how well the partnership between Gem Diamonds and the government of Lesotho works,” he said.
Leisanyane added that the recovery of the 910ct proves the expertise that Gem Diamonds and Letšeng Diamonds bring to the mining of diamonds at difficult Letšeng deposit.
He noted in excess of 32 million tonnes of waste and ore are moved in order to recover just 100,000 carats of diamonds. “This takes great skill and large amounts of capital brought in as foreign direct investment into the country,”Leisanyane said.
Letšeng Diamond Mine indicated that in its February meeting, the Letšeng Board named the 910ct the Lesotho Legend, to reflect its significance to the country.
“It is important to note that although Gem Diamonds has 70% of the shares in the Letšeng Mine and the Government holds 30%, the split of revenue is approximately 60% to the Government and 40% to Gem Diamonds.
” Letšeng statement noted that the government gets a much larger take through royalties, withholding tax, company tax, PAYE tax and VAT.
“In addition to the contribution to the Government detailed above, a certain amount of the revenue realized from the sale will be set aside to fund ‘The 910 Community Project’,” the statement said.
“Details of the project have not been determined yet, but it will be in line with Letšeng’s Corporate Social Responsibility and Investment strategy (CSRI), and it will be a sustainable project aimed at benefitting the local community in the vicinity of the mine.”
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