Yellow monster diamond found in Liqhobong Mine

Over the weekend, a massive 72-carat yellow diamond was found at the Liqhobong Diamond Mine in Mokhotlong – the latest in a long line of giant diamonds recently recovered in Lesotho.

Last month, a white 70-carat diamond from the same mine was auctioned for an undisclosed price, following a 46 carat diamond, also from the same, which was sold for $1 million (M14.3 million) in December last year.

The biggest diamond recovered at the mine was a 326 carat light yellow makeable stone, auctioned last year.

Also in 2018, a 910-carat diamond (which weighed 182 grams) was discovered at the Letšeng Mine, which has also yielded a 603-carat diamond dubbed the “Lesotho Promise”.

“It was a good weekend for us, recovering the 72-carat diamond as well as the two smaller, high quality stones from within the northern, lower grade part of the pit,” said Paul Bosma, chief executive officer of Firestone Diamonds, the UK-listed company, which owns the Liqhobong Mine.

Diamond prices have been under pressure as more companies (including diamond giant De Beers) produce synthetic diamonds. Miners also report weak demand, especially for small stones.

Firestone achieved an average price per carat of $71 in the six months to end December, from $74 in the first half of 2018. – Business Insider SA