Massive recovery for Letšeng Diamonds

Massive recovery for Letšeng Diamonds
Massive recovery for Letšeng Diamonds

Africa-Press – Lesotho. A leading global diamond producer of high value diamonds, Gem Diamonds has recovered 245 carat white type II diamond from Letšeng Diamonds mine in Mokhotlong.

Letšeng Diamonds Communications and Community Relations Manager Lebohang Chefa explained that this 245 carat white type II diamond recovery happened on Saturday

at Letšeng Diamonds in Mokhotlong and it is the third diamond of over 100 carats recovered in the past three weeks. He said the previous recoveries made

for the month of May are as follows; recovery of 129 carat stone on May 23 and recovery of 125 carat stone on May 31. Chefa further said these are top-quality diamonds which usually fetch top dollars for

the mine when sold. He indicated that the diamond will be sold at Antwerp, Belgium, where all diamonds unearthed at Letšeng Diamonds Mine are sold, through sealed tenders.

“It will undergo the usual valuation process for value estimation,” he said, adding that the proper

valuation is yet to be done and its price will be influenced by a number of factors that include the current average price per carat in the global market.

He said on average, the mine recovers eight diamonds of 100 carats plus each year. Chefa continued to say that the mine depends on the large diamonds because of the

good price they fetch in the international market. “We are very excited about the recovery of the 245-carat because it means more revenue for the mine.

It further means that Letšeng’s contribution to the economy will continue through the payment of dividends, royalties and taxes,” he noted. He indicated that Basotho will also

reap benefits in terms of the mine’s continued contribution through corporate social responsibility programmes that include educational scholarships, footbridges, health posts, classrooms and income-generating projects, examples of which are the Butha-Buthe Vegetables Projects located at ‘Malere and Nkhaketse and the Liphamola Dairy Farm Project located in Mokhotlong town.

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