Large diamonds are known to have a huge market demand, inspite of the prevailing unsteady market conditions. This was once again proved when Gem Diamonds sold a 357 carat white diamond for a staggering$19.3 million. The UK-based company made the deal in Antwerp, Belgium recently.
The diamond was mined from Lesotho’s Letšeng mineabout a couple of months back. Lesotho’s Letšeng mine has been acquired by Gem Diamonds in 2006. This is the second such diamond stone, weighing more than 300 carats, which has been mined from the renowned mine this year. In May, 2015, a 314 carat diamond was recovered and sold immediately within a month.
The CEO of Gem Diamonds, Clifford Elphick said, that since both the diamonds sold at a high price, it proved once again that Letšeng’s top-quality diamonds are in demand and can be sold at high rates, despite the prevailing market conditions.
The Lesotho’s Letšeng mine, renowned as the world’s highest diamond mine, is located in the landlocked Southern African kingdom of Lesotho. After Gem Diamonds acquired it, the Letšeng mine has already produced four of the 20 largest white diamonds ever recorded in history. Gem Diamonds is now busy developing another mine in Botswana.