(Alliance News) - Gem Diamonds Ltd said Friday it has recovered a high-quality 442 carat diamond from the Letseng mine in Lesotho, one of the largest recoveries of the year.
Shares in Gem Diamonds were 14% higher at 31.90 pence on Friday in London.
The diamond miner said part of the proceeds from the sale of the diamonds will go towards funding a "special community project", agreed with government partners.
"The recovery of this remarkable 442 carat diamond, one of the world's largest gem quality diamonds to be recovered this year, is further confirmation of the calibre of the Letšeng mine and its ability to consistently produce large, high quality diamonds. It is also a fitting testament to the dedication of the employees in the group to have recovered such an extraordinary diamond, whilst at the same time maintaining strict adherence to health and safety precautions during the global Covid pandemic," said Chief Executive Officer Clifford Elphick.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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