Money Fifth-largest gem diamond in history sells for $40 million

18:50  13 march  2018
18:50  13 march  2018 Source:   CNBC

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A 910-carat diamond , which is believed to be the world's fifth largest diamond , has been unearthed in Lesotho. The stone was discovered in Letseng mine by Gem Diamonds , a UK miner with operations in Analysts say the newly discovered 910-carat diamond could be worth as much as $ 40 million .

Image: Gem Diamonds . One of the biggest diamonds found to date has been sold for $ 40 - million . Lucara Diamond got a record -million for an 813-carat stone last year and -million for the 1,109-carat diamond it found at the same time, which was the second-biggest in history .

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One of the largest gem-quality diamonds ever mined has sold for $40 million.

A 910-carat diamond, named "The Lesotho Legend," was bought by tender Monday by an unnamed buyer in Antwerp, Belgium, according to Gem Diamonds.

Gem Diamonds, which retrieved the rock in January, said it was the fifth-largest gem-quality diamond ever recovered.

The firm said it had removed the diamond from the Letseng mine in Lesotho, a country encircled by South Africa. According to Gem Diamonds in January, it was the largest diamond to have been recovered from the mine.

The company owns 70 percent of the Letseng mine — a location renowned for its production of white diamonds.

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The world’s fifth biggest gem -quality diamond ever found was sold for $ 40 million on Monday, the company that found the massive rock said. Since acquiring Letšeng in 2006, Gem Diamonds has found now five of the 20 largest white gem quality diamonds ever recovered and several

More importantly, the diamond is the fifth -biggest ever found. “Assuming that there are no large inclusions running through the diamond , we initially estimate a sale of $ 40 m,” said Richard Knights at Liberum, citing the 1,109-carat Lesedi la Rona discovered in 2015, and it sold for million .

Following the sale, Gem Diamonds CEO Clifford Elphick said in a statement that the company was "delighted," adding that its purchase highlighted the "exceptional quality of The Lesotho Legend itself" and the high standard of the Letseng mine's diamond production.

Gem Diamonds has recovered a number of diamonds in recent months, with the company stating last week that it had unearthed six diamonds larger than 100 carats since the start of the year.

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