{"id":5263,"date":"2021-10-30T10:58:52","date_gmt":"2021-10-30T10:58:52","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million"},"modified":"2021-10-30T11:26:44","modified_gmt":"2021-10-30T11:26:44","slug":"910-carat-lesotho-diamond-sells-for-m476-million","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million","title":{"rendered":"910 carat Lesotho diamond sells for M476 million"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span>Gem Diamonds has sold the Lesotho Legend, the 910-carat stone it unearthed at Let\u0161eng Diamond Mine in January for M476 million. The company said yesterday.<\/p>\n

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.<\/p>\n

The Chief Executive Officer (CEO) of Let\u0161eng Diamonds, Mr Kelebone Leisanyane, expressed his delight regarding the sale of the legendary diamond. \u201cThis demonstrates the exceptional quality of our mine and how well the partnership between Gem Diamonds and the government of Lesotho works,\u201d he said.<\/p>\n

Leisanyane added that the recovery of the 910ct proves the expertise that Gem Diamonds and Let\u0161eng Diamonds bring to the mining of diamonds at difficult Let\u0161eng deposit.<\/p>\n

He noted in excess of 32 million tonnes of waste and ore are moved in order to recover just 100,000 carats of diamonds. \u201cThis takes great skill and large amounts of capital brought in as foreign direct investment into the country,\u201dLeisanyane said.<\/p>\n

Let\u0161eng Diamond Mine indicated that in its February meeting, the Let\u0161eng Board named the 910ct the Lesotho Legend, to reflect its significance to the country.<\/p>\n

\u201cIt is important to note that although Gem Diamonds has 70% of the shares in the Let\u0161eng Mine and the Government holds 30%, the split of revenue is approximately 60% to the Government and 40% to Gem Diamonds.<\/p>\n

\u201d Let\u0161eng statement noted that the government gets a much larger take through royalties, withholding tax, company tax, PAYE tax and VAT.<\/p>\n

\u201cIn 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 \u2018The 910 Community Project\u2019,\u201d the statement said.<\/p>\n

\u201cDetails of the project have not been determined yet, but it will be in line with Let\u0161eng\u2019s 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.\u201d<\/p>\n

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

Africa-Press – Lesotho. Gem Diamonds has sold the Lesotho Legend, the 910-carat stone it unearthed at Let\u0161eng 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 […]<\/p>\n","protected":false},"author":84,"featured_media":5262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[233,246,362,245],"class_list":["post-5263","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-diamond","tag-lesotho"],"yoast_head":"\n910 carat Lesotho diamond sells for M476 million - Lesotho<\/title>\n<meta name=\"description\" content=\"Gem Diamonds has sold the Lesotho Legend, the 910-carat stone it unearthed at Let\u0161eng Diamond Mine in January for M476 m ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"910 carat Lesotho diamond sells for M476 million\" \/>\n<meta property=\"og:description\" content=\"Gem Diamonds has sold the Lesotho Legend, the 910-carat stone it unearthed at Let\u0161eng Diamond Mine in January for M476 m ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-30T10:58:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-10-30T11:26:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-617d2bd99ef86.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"478\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"910 carat Lesotho diamond sells for M476 million\",\"datePublished\":\"2021-10-30T10:58:52+00:00\",\"dateModified\":\"2021-10-30T11:26:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million\"},\"wordCount\":350,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2021\/10\/img-617d2bd99ef86.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"Diamond\",\"Lesotho\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/910-carat-lesotho-diamond-sells-for-m476-million\",\"name\":\"910 carat Lesotho diamond sells for M476 million - 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