Letseng Legacy

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Letseng Legacy Diamonds news

World's 18th Largest Diamond 493-Carat Diamond Named “Letseng Legacy” sold in Antwerp

Ten Million dollars Diamond sold in Antwerp to Graff's company Safdico

The Letsend Legacy will be sold through WWW International Diamond Consultants . The bidders will put the offers in a closed enveloppe, the diamond going to the highest bidder. 

By Danny Diamonds.5th November, 2007

GEM DIAMONDS LIMITED
493 CARAT WHITE DIAMOND NAMED THE “LETŠENG LEGACY”

Gem Diamonds Limited (LSE: GEMD) (“Gem Diamonds”) and the Government of the Kingdom of Lesotho are delighted to announce the 493 carat white diamond recovered from the Letšeng mine has been named “Letšeng Legacy”.

The Letšeng Legacy ranks as the world’s 18th largest rough diamond and was recovered from the Letšeng le Terai Mine in Lesotho on the 7th of September.

The name reflects growing legacy that the Letšeng le Terai Mine is creating as a producer of remarkable diamonds. Letšeng Diamonds, which is 70% owned by Gem Diamonds and 30% owned by the Government of the Kingdom of Lesotho, has now produced three of the world’s top 20 diamonds. 

Two of these were recovered by Gem Diamonds in the last 13 months - the 603
carat Lesotho Promise recovered in August 2006 and this 493 carat diamond.
The 493 carat Letšeng Legacy will be sold on tender in Antwerp by WWW International Diamond Consultants on Wednesday the 14th of November at a ceremony attended by the Lesotho Minister of Natural Resources, the Honourable Minister Monyane Moleleki, and the Gem Diamonds directors.
 

The Lesotho Promise, which was the 15th largest rough diamond, was sold on tender in October 2006 for US$12.4 million to Graff Jewellers. The collection of polished diamonds from the Lesotho Promise is expected to sell for between US$25-30 million. The Lesotho Brown diamond was recovered in 1961 and ranks as the world’s 16th largest diamond. It yielded 18 polished diamonds, the largest of which was recently re-acquired by the original buyer, jewellers Harry Winston.
In January 2007, Letšeng Diamonds also produced a 215 carat D-colour flawless diamond which subsequently sold on tender for US$8.3 million.

The Letšeng Mine hosts two kimberlites, the Main and Satellite Pipes, that have a combined diamond resource value of US$4.7 billion. It is renowned for producing some of the world’s largest diamonds which attract the highest average price per carat of any kimberlite mine. As reported in Gem Diamonds’ Interim Results to end June 2007 released on the 13th September, the average price per carat achieved from the Letšeng Satellite Pipe was US$1894 and US$1128 from the Main Pipe. This compares with the world average price of approximately US$81 per carat.

Gem Diamonds currently has a specific focus towards higher value diamonds, a segment of the market that its management believes will deliver superior long term returns.

For further information about Gem Diamonds visit www.gemdiamonds.com . 

next text found at diamonds.blogs.com November 05, 2007

The world’s 18th largest diamond, weighing 493 carats, was discovered in at the Letseng-la-Terai Mine in the Kingdom of Lesotho on September 7.  Letseng Diamonds recently named the diamond “Letseng Legacy.”  The Letseng Diamonds Company is 70% owned by mining company Gem Diamonds and 30% owned by the government of Lesotho.

The Letseng Mine is famous for its large diamond discoveries and has now produced three of the world’s top 20 diamonds, most recently the 603-carat Lesotho Promise in August 2006 and now the 493-carat Letseng Legacy in September 2007.  Production at the mine this year has price per carats yields of about 15 times higher than world average diamond prices, which reflects the larger size and higher quality of the stone recovered.  The Letseng-la-Terai Mine also has the distinction as being the highest diamond mine in the world, located over 10,000 feet above sea level.

The Letseng Legacy will be sold on tender in Antwerp on November 14, 2007.  The Lesotho Promise was sold at a similar tender in October 2006 for $12.4 million to Graff Jewelers, who then produced a collection of polished stones valued as high as $30 million.  The Lesotho Brown, a 601-carat, discovered in 1961 and the 16th largest stone, was cut into 18 finished diamonds by Harry Winston jewelers who recently re-acquired the largest stone.  While not a top twenty stone in terms of size, Letseng Diamonds also produced a 215-carat D-color flawless diamond in January 2007, which sold for $8.3 million.

Diamant van 493 karaat wordt woensdag in Antwerpen verkocht

De "Letseng Legacy", een uitzonderlijke ruwe diamant van 493 karaat, wordt op woensdag 14 november verkocht in Antwerpen via een tender. Het gaat om de achttiende grootste ruwe diamant ter wereld. Dat meldt het Antwerp World Diamond Centre woensdag.

(belga) - De diamant werd op 7 september 2007 ontgonnen in de Letsengmijn in Lesotho. Letsengs Diamonds, dat voor 70 procent in handen is van Gem Diamonds Limited en voor 30 procent in het bezit van de overheid van het koninkrijk Lesotho, heeft al drie van de twintig grootste diamanten ter wereld geproduceerd, waaronder nu de "Letseng Legacy".

Woensdag 14 november wordt de "Letseng Legacy" in Antwerpen verkocht door WWW International Diamond Consultants. Dat gebeurt via een tender, waarbij potentiële kopers met gesloten briefjes een bod doen, waarna het goed aan de hoogstbiedende wordt toegewezen. De verkoop zal gepaard gaan met een korte plechtigheid, waarbij ook Monyane Moleleki, de minister van Natuurlijke Rijkdommen van Lesotho, aanwezig zal zijn.

In de Letsengmijn werd ook al de "Lesotho Promise" (foto) ontgonnen. Dat is de vijftiende grootste ruwe diamant ter wereld, die voor 12,4 miljoen dollar werd verkocht.

foto belga

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