The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Gem Diamonds Finds 6th 100-Carat-Plus Stone This Year
Discovered in Lesotho, the diamond is a Type IIa stone that weighs 115 carats.
London--Mining company Gem Diamonds announced this week it has unearthed another big, high-quality rough diamond from the Letšeng Mine in Lesotho.
The stone is 115 carats and is a D color, Type IIa diamond, meaning it has no measurable nitrogen or boron impurities. Type IIa diamonds are the most chemically pure, and it’s estimated that only about 1 percent of the world’s diamonds are Type IIa.
The announcement, made Tuesday, follows Gem Diamonds’s recovery of five other diamonds weighing more than 100 carats this year at Letšeng, which is known for producing big, valuable diamonds.
The largest of the stones recovered so far this year was a 126-carat D color, Type IIa diamond discovered in July.
Other finds this year include a 104.73-carat diamond in June and a 114-carat diamond in April, both of which also are D color and Type IIa, and a 151.52-carat Type I yellow in June.
Gem Diamonds owns 70 percent of the Letšeng Mine, with the remaining 30 percent held by the Government of the Kingdom of Lesotho.
It also owns 100 percent of the Ghaghoo Mine in Botswana, though production at that mine is currently halted until market conditions improve.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The site has been down since Thursday evening, just ahead of its spring auctions.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.
Brian D. Fleming of Carla Corporation was elected to serve a one-year term in the role.