LesothoMineral ResourcesNatural ResourcesSouth Africa

A Rare 108ct Pink Diamond Recovered in Lesotho

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108 carat unusual pink diamond found in Lesotho: A stunning beautiful vivid pink diamond measuring 108.39 carats was found on March 23, 2023, at Storm Mountain Diamonds’ Kao Mine in the nation of Lesotho, according to the mining firm.

One of the biggest pink diamonds ever recovered and a very uncommon Type IIa jewel, the mining team in Lesotho has provided a list of names for it.

Large pink diamonds of a constant size are often produced in the Kao Mine.

Recent finds include the 29.59ct Rose of Kao in 2018, the 25.97ct Pink Dawn, the 21.68ct Pink Palesa, and the 47.81ct Pink Eternity in 2022, 2021, and 2021, respectively.

This most recent discovery confirms Kao Mine’s position as one of the leading suppliers of remarkable pink diamonds.

Mohlomi Moleko, the Lesotho minister of natural resources, commented on the diamond, stating that it “is one of the most significant [discoveries] in Lesotho” to date.

In 2024, Lesotho is anticipated to open its first center for the production of diamonds.

Lesotho is a member of the #AfCFTA.

Also Read: Top Gas and Oil Exploration Companies in Africa

More than 100 Carat Diamonds discovered in a Lesotho Mine

The 117 carat and 110 carat D color Type IIa diamonds were found at the Letseng mine, according to a statement released by Gem on Monday. The most valuable diamonds are type IIa diamonds, which have little or no nitrogen atoms.

The announcement will be viewed as particularly favorable for the business after Gem found at least seven stones larger than 100 carats in 2017 and five in 2016.

In 2015, Gem retrieved 12 stones weighing more than 100 carats.

Even yet, the greatest find was made at Letseng, which is well known for the size and quality of its stones. Recent discoveries pale in comparison.

Gem unearthed the 603-carat Lesotho Promise in 2006 and sold a 357-carat stone for $19.3 million in 2015.

Diamonds.net met with investment bank Canaccord Genuity analysts Des Kilalea and Tim Huff.

Although we are unsure of the stones’ eventual worth, it is possible that high-quality, type-IIa diamonds will sell for more than $25,000 per carat.

On Monday, Lucapa Diamond Company, a rival mining firm, also said that its operations in Angola had uncovered 103 carat and 83 carat diamonds. A 404 carat stone that sold for $16 million was the company’s largest-ever discovery in 2016.

The mining sector in Lesotho contributes up to 10% of the country’s gross domestic product and unlike many countries where mineral wealth has fuelled conflict, Lesotho has managed to use proceeds from mining diamonds to spur socio-economic development.

Also Read: Top 5 Gold Reserves Countries in Africa

Diamond Export and Import in Lesotho

Lesotho was the 21st greatest diamond exporter in 2021 with $373 million in diamond exports. In the same year, diamonds were Lesotho’s most popular export. Belgium ($252M), the United Arab Emirates ($52M), the United States ($36.9M), Switzerland ($30.8M), and China ($705K) are the top export markets for diamonds from Lesotho.

In terms of exports, the United Arab Emirates ($24.1M), Switzerland ($930k), and Japan ($424k) saw the biggest growth between 2020 and 2021.

Also Read: Countries with World Largest Oil Reserves Vs African Countries with Largest Oil Reserves

Imports

Lesotho imported $28,2k worth of diamonds in 2020, ranking as the 0th highest diamond importer globally. In the same year, diamonds were Lesotho’s tenth most popular imported good. Diamonds are largely imported by Lesotho from:

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Source
africanewsoec

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