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The fifth-largest diamond in history sells for US$40mil


File photo.

File photo.

LONDON: One of the biggest diamonds found to date has been sold for US$40mil.

The 910-carat Lesotho Legend was sold in a tender in Antwerp, Gem Diamonds Ltd. said Tuesday. The company found the stone, which is about the size of two golf balls, at its Letseng mine in the African country this year.

While it’s the most Gem has yet received for a diamond, other companies have sold for more. Lucara Diamond Corp. got a record US$63mil for an 813-carat stone last year and US$53mil for the 1,109-carat diamond it found at the same time, which was the second-biggest in history.

The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world. Gem sold a 357-carat stone for US$19.3mil in 2015 and in 2006 found the 603-carat Lesotho Promise.

So far this year, the company has found six diamonds bigger than 100 carats, putting it on track for its best year yet. - Bloomberg

Corporate News , diamond

   

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