{"id":13683,"date":"2022-04-29T09:36:54","date_gmt":"2022-04-29T09:36:54","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/big-discovery-for-letseng-diamonds"},"modified":"2022-04-29T10:09:59","modified_gmt":"2022-04-29T10:09:59","slug":"big-discovery-for-letseng-diamonds","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/big-discovery-for-letseng-diamonds","title":{"rendered":"Big discovery for Let\u0161eng Diamonds"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>Let\u0161eng Diamonds has discovered a 442 carat white type II gem diamond on August 19. These developments were unveiled by the Gem Diamonds on their website.<\/p>\n

\u201cThe recovery of this remarkable 442 carat diamond, one of the world\u2019s largest gem quality<\/p>\n

diamonds to be recovered this year, is a further confirmation of the calibre of the Let\u0161eng mine and its ability to consistently produce large, high quality<\/p>\n

diamonds. It is also a fitting testament to the dedication of the employees in the Group to have recovered such an extraordinary diamond, whilst at the same<\/p>\n

time maintaining strict adherence to health and safety precautions during the global Coronavirus (COVID-19) pandemic. A portion of the proceeds from the sale<\/p>\n

of this diamond will be used to fund a special community project, as agreed with our partners the Government of Lesotho,\u201d notes Gem Diamonds Chief Executive Officer (CEO) Clifford Elphick.<\/p>\n

For his part, Let\u0161eng Diamonds Chief Executive Officer (CEO) Kelebone Leisanyane said the mine \u201cis grateful to the Government of Lesotho for showing confidence in the mining<\/p>\n

industry during these difficult times of the pandemic and for having designated mining as an essential service in an effort to keep the wheels of the economy<\/p>\n

rolling. \u201d He also highlighted that \u201cthe recovery of this remarkable 442-carat diamond, one of the world\u2019s largest gem quality diamonds to be recovered this year, will<\/p>\n

contribute immensely to the fiscus in the form of taxes, royalties and dividends. A portion of the proceeds from the sale of this diamond will also be used to fund a special<\/p>\n

community project, as agreed with the Government of Lesotho in the new mining lease agreement. It is also important to note that Let\u0161eng Diamonds will continue to maintain strict adherence to<\/p>\n

health and safety precautions during the global COVID-19 pandemic. \u201d The mine also announced that the 442 carat precious stone comes after the discovery of 163<\/p>\n

carat yellow type I in June, 60 carat type I light yellow, 87 carat type II D-color and the 23 carat type II D-colour white diamonds earlier in April.<\/p>\n

Let\u0161eng Diamonds usually attracts international spotlight for unearthing some of the biggest kimberlite stones in the world. Some of the celebrated discoveries were 603<\/p>\n

carat Lesotho promise in 2006, 493 carat in 2007 named Let\u0161eng Legacy and 2011\u2019s 550 carat named Let\u0161eng Star. The Let\u0161eng-la-Terae based mine dug up the<\/p>\n

910 carat D- color diamond named Lesotho Legend which was sold for $40 million<\/p>\n

in 2018. Last year, the government renewed the Gem Diamonds mining lease by 10 years and has increased the diamonds sales rates from 8 percent to 10 percent.<\/p>\n

Gem Diamonds is the United Kingdom based company with Sales and Marketing operations based in Belgium and owns Let\u0161eng Diamonds. Gem Diamonds is the majority shareholder with 70 percent stake while the government of Lesotho owns 30 percent.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. Let\u0161eng Diamonds has discovered a 442 carat white type II gem diamond on August 19. These developments were unveiled by the Gem Diamonds on their website. \u201cThe recovery of this remarkable 442 carat diamond, one of the world\u2019s largest gem quality diamonds to be recovered this year, is a further confirmation of […]<\/p>\n","protected":false},"author":84,"featured_media":13682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,246,258,245],"class_list":["post-13683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-lesotho","tag-company","tag-lesotho"],"yoast_head":"\nBig discovery for Let\u0161eng Diamonds - Lesotho<\/title>\n<meta name=\"description\" content=\"Let\u0161eng Diamonds has discovered a 442 carat white type II gem diamond on August 19. 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