Fifth-largest diamond in history sells for $40 million

Fifth-largest diamond in history sells for $40 million”

Gem Diamonds has sold its so-called Lesotho Legend, the fifth largest gem-quality diamond in history, for $40m (£29m).

According to Bloomberg, the diamond is about the size of two golf balls and was discovered in a mine that is well-known for producing diamonds of size and quality that achieve some of the highest average selling prices in the world.

Previous to "The Lesotho Legend", the biggest precious rock found at Letšeng was the 603-carat Lesotho Promise, dug up in 2006.

The company owns 70 percent of the Letseng mine, which is a location known for its production of white diamonds.

While it's the most Gem has yet received for a diamond, other companies have sold for more.

The diamond was recovered from the Letšeng mine in Africa this past January.

Gem Diamonds is a global diamond producer of high value diamonds.

A rough diamond from Botswana, believed to be the biggest uncut diamond found in a century, sold for 53 million dollars in September.

Following the sale, Gem Diamonds CEO Clifford Elphick said in a statement that it's purchase has reasserted "the unique quality of the Letšeng diamond production".

So far this year, Gem Diamonds has found six rocks bigger than 100 carats each.

Like this


13 March 2018
Manchester United midfielder Michael Carrick to retire at end of the season
The 36-year-old has already been offered a coaching role at the club, and said it was "looking likely" he would accept it. It took a little while to get over. "I wanted to finish on my own terms so I was determined to get back fit".

13 March 2018
Former Patriots WR expected to sign with Miami Dolphins, per report
The receiver had taken paycuts in each of the last three seasons, and it looks like he chose to cash-in this offseason. The deal can not be officially signed until March 14, which is the start of the new league year.

13 March 2018
Presidency reacts to IGP Idris' alleged disobedience to Buhari's order
On why killings continued after the president had visited some of the places, the presidential spokesman said security is a collective responsibility.

13 March 2018
Notable Stock Analysts Ratings Western Digital Corporation (WDC)
Pinnacle Associates Ltd owns 46,015 shares for 0.07% of their portfolio. 33 were accumulated by Shamrock Asset Management Ltd Com. Moreover, Raymond James Financial Svcs Advisors has 0.03% invested in Western Digital Corporation (NASDAQ:WDC) for 45,293 shares.

13 March 2018
Boeing, Turkish Airlines Finalize Deal for Up to 30 787 Dreamliners
With this firm order - first announced as a commitment last September - Turkish Airlines becomes the 71 customer to buy the 787. The airline has also agreed to buy 25 Boeing B787-9 Dreamliners.

13 March 2018
Pac-12 sets forth plan for sweeping reform of men's basketball
Another recommendation was to create an independent office to conduct NCAA investigations and determine major violations. There are similar rules already in place in both baseball and hockey.

13 March 2018
Should Jose Mourinho have more faith in Marcus Rashford?
Paul Pogba returns to the squad after a minor injury, but the club's record signing must do with a place among the replacements. His comments about Frank De Boer being the worst manager in Premier League history were straight out of the top drawer.

13 March 2018
Ofo raises $866 million in latest funding round led by Alibaba
The company has already made inroads into France, Japan and the United States , and says it is operational in around 20 countries. Ola announced the launch of Ola Pedal, its cycle-sharing option, now in the pilot stage at the IIT Kanpur campus.

13 March 2018
Washington to Sign Paul Richardson
Richardson, 25, will add an element of speed to the Redskins receiving core that was missing last season. Richardson has agreed to a five-year deal with a $10 million signing bonus and $20 million guaranteed.

13 March 2018
GlaxoSmithKline (GSK) Getting Somewhat Positive News Coverage, Report Finds
Robeco Institutional Asset Management Bv owns 180,180 shares for 0.04% of their portfolio. (NYSE:PFE) for 12.17M shares. Wealthcare Advisory Partners LLC grew its position in GlaxoSmithKline by 1,982.8% during the third quarter. (NYSE:PFE).