PDA

View Full Version : Lesotho diamond put up for sale


kristin
10-05-2006, 04:14 PM
Lesotho diamond put up for sale
BBC-

The "Lesotho Promise", the largest diamond found this century, has gone on sale in the Belgian city of Antwerp.
The white diamond was unearthed on 22 August at the Letseng Diamond Mine in the southern African kingdom.

The 603-carat gem is the 15th largest ever discovered. "It's about a third bigger than a golf ball," a spokeswoman for the owners said.

The Letseng mine is jointly owned by the Gem Diamond Mining Company of Africa and the Lesotho government.

"The stone is an exceptional colour, rated D, the top colour for diamonds," they said in a statement.

The value of the gem, which in its current rough form weighs 120 grammes (4.2oz), depends on how many cut diamonds can be crafted from it.

Diamond cutters from around the world have been examining it, and the winning bid will be announced next week.

The "Lesotho Promise" is the biggest uncut diamond discovered since the Millennium Star, at 777 carats, was found in the Democratic Republic of Congo in 1993.

But the largest diamond ever recorded is the Cullinan, found in 1905 in South Africa, which weighted in at 3,106 carats.

The 503-carat Star of Africa was cut from it and now forms part of the British crown jewels displayed in the Tower of London.

kristin
10-10-2006, 11:41 AM
Lesotho Promise Sells for $12.36 Million to Safdico
(October 9, '06, 9:57 Edahn Golan)

The D color, 603-carat rough diamond known as the Lesotho Promise has been sold to South African Sightholder Safdico for $12.36 million, $20,497.51 per carat. Safdico specializes in high-end blue-white gems, fancy colors, and large sized diamonds.

The result of the silent auction for the purchase of the diamond was announced during today’s press conference at the HRD in Antwerp, by Lesotho’s Minister of Natural Resources, Mamphono Khaketla, who came to Belgium for the occasion. The diamond was mined at Lesotho’s Letseng mine, in which the government holds a 30 percent stake. Gem Diamond Mining owns the remaining 70 percent.

Safdico is a partner of Graff, the London jewelry house known for its very high-end diamond jewelry, which is often set with exceptionally large diamonds. Safdico’s Yves Alexis said they expect the polished diamonds manufactured from the Lesotho Promise to retail at over $20 million.

The diamond was mined on August 22 and the auction started on October 4 – Lesotho’s Independence Day.

Other known bidders for the stone include Alain Sternberg, Rosy Blue, and Omega Diamonds.