A 478 carat diamond was recovered from the Letseng le Terai mine in the African kingdom of Lesotho. This diamond has been named the “Leseli la Letseng” meaning the light of Letseng. This diamond was sent to Antwerp, Belgium for analysis and was determined to be of premium quality, outstanding color and clarity. It was established to be the 20th largest rough diamond recovered so far.
This famed diamond was sold by the government of the Lesotho kingdom and the Gem Diamonds mining company (joint venture) to Graff Diamonds which is based in the United Kingdom. Laurence Graff is the chairman of this company. The diamond was sold for 18.4 million dollars.
The auction held at Antwerp for the diamond saw many prestigious diamond dealers out bid each other for the possession of the famed gem. The winning bid was submitted by the manufacturing arm of Graff diamonds, the Safdico. The company lays its claim on expertise and knowledge of large diamonds and is planning to produce a beautiful polished stone of at least 200carats from the rough diamond that they won. The price paid for the gem makes it the costliest rough diamond.
The Letseng mines have produced other coveted gems in the past like the Lesotho Promise of 603 carats, the 493 carat Letseng Legacy, the 601 carat Lesotho Brown. Of these, two have been bought by Graff Diamonds previously. These are the Lesotho Promise and the Letseng Legacy. Hence the acquisition of the Light of Letseng has increased the significance of the company. The mines were owned by De Beers for many years.
The Letseng mine is known for producing historic stones. The new diamond is the third that has been recovered from the mine following Letseng Legacy in 2007 and Lesotho Promise in 2006. The Lesotho Brown was discovered in 1967 and was about 601 carats. Including this the mine has produced four of the top twenty largest rough diamonds and of these three has been recovered in this century.
The sale of the diamond for such a huge unexpected price, even during recession came as a surprise. But the Light of Letseng is a high quality diamond and has exceptional clarity and is flawless hence the price is apt to its significance. The sale of this diamond is the proof the people have in the enduring dependence on diamonds, its value and its beauty. The stone is worth every dime spent.