Historic 478 carat white diamond to be unveiled in Dubai

Notes and media contacts

About Letšeng Diamonds
Letšeng Diamonds (Pty) Ltd was incorporated in Lesotho in 1995 with the intention of seeking a mining lease from the Government of Lesotho to re-open the Letšeng Diamond Mine on the high plateau of the Maluti Mountains. The Letšeng Mine is situated at 3400m altitude making it the highest diamond mine in the world.

The mine was previously operated by De Beers from 1977 to 1982 and was closed with less than 10% of the open pit mineable ore having been treated. Mining operations recommenced in April 2004 and in 2006 Gem Diamonds acquired 70% of Letšeng Diamonds. The remaining 30% of Letšeng Diamonds is owned by the Government of the Kingdom of Lesotho in partnership with Gem Diamonds.

Letšeng is renowned for its production of large high quality white diamonds including many historic diamonds. Ninety percent of the diamonds recovered are gem quality and a significant number graded as D colour, the average diamond size is in excess of one carat.

The 478 carat diamond ranks as the 20th largest rough diamond ever to be recovered. It is the third significant recovery from the Letšeng Mine in as many years, following the 603 carat Lesotho Promise and the 493 carat Letšeng Legacy recovered in 2006 and 2007 respectively. Including the 601 carat Lesotho Brown, recovered in 1960, the Letšeng Mine has now produced four of the world's 20 largest rough diamonds and the three largest diamonds recovered this century.

About the DMCC
DMCC was created in 2002 as a strategic initiative of the Dubai Government to establish a commodity marketplace in Dubai. Rated 'A' by Standard & Poor's, it provides the market infrastructure that brings together a wide range of commodities activities, and is committed to serve the needs of participants in the gold, diamonds and commodities markets. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises, and a secure regulated environment.

For further information:
Letšeng Diamonds
Mazvi Maharasoa
Tel: +266 628 63029
Gem Diamonds Limited
Richard Chetwode
Tel: +44 759 006 4883
Dubai Multi Commodities Centre
Sudha Chandran
Tel: +971 4 367 8382