A model posing with an uncut 1109-carat diamond named 'Lesedi La Rona' at Sotheby's auction house in London. Gem Diamonds Monday said it has found 117 carat and 110 carat D color Type IIa diamonds -- the most expensive variety -- at the Southern African Letseng mine. Ben Stansall / AFP
A model posing with an uncut 1109-carat diamond named 'Lesedi La Rona' at Sotheby's auction house in London. Gem Diamonds Monday said it has found 117 carat and 110 carat D color Type IIa diamonds -- Show more

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Miner unearths diamonds of more than 100 carats in Lesotho

The mining firm has found 117ct and 110ct D color Type IIa diamonds - the most expensive variety

Bloomberg

January 09, 2018

Gem Diamonds has discovered two huge diamonds, each bigger than 100 carats, at its Lesotho mine in southern Africa.

It unearthed the 117ct and 110ct D color Type IIa diamonds at the Letseng mine, Gem said in a statement on Monday. Type IIa diamonds contain very little or no nitrogen atoms and are the most expensive stones.

After the find, the company's stock rose as much as 8.2 per cent in London trading.

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Read more:

UAE buyer acquires Dh4.7 million ring at auction

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It is a good start to the year following Gem's discovery of at least seven stones bigger than 100ct in 2017 and five the year before. It recovered a dozen diamonds bigger than 100ct in 2015.

Still, recent finds does not compare with the largest at Letseng, renowned for the quality and size of its stones. Gem sold a 357ct stone for US$19.3 million in 2015 and in 2006 found the 603ct Lesotho Promise.

Lucapa Diamond Coompany also had a good new year, announcing on Monday it had discovered 103ct and 83ct diamonds at its operations in Angola. The company's biggest-ever find was a 404ct stone that sold for $16m in 2016.

England v South Africa schedule:

  • First Test: At Lord's, England won by 219 runs
  • Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
  • Third Test: The Oval, London, July 27-31, 2pm
  • Fourth Test: Old Trafford, Manchester, August 4-8
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

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