LESOTHO — One of the largest diamonds ever found is being snatched away via the South African Diamond Corporation, an extension of Gem Diamonds.
According to Barron’s, a 910-carat diamond was recently mined in Lesotho — a small country near South Africa.
— TicToc by Bloomberg (@tictoc) January 15, 2018
The announcement came from Gem Diamonds earlier this week.
The diamond is said to be the fifth-largest gem-quality diamond ever recovered, worth $40 million.
SHINE BRIGHT LIKE A DIAMOND! Check out this 910 CARAT DIAMOND discovered in Lesotho. It’s heavier than a baseball and is worth $40 million! pic.twitter.com/WFUKoxYcYF
— ABC World News Now (@abcWNN) January 16, 2018
Gem Diamonds, the parent company, estimates that the stone has a D-color grade. This means it’s colorless. Additionally, it’s considered the most chemically pure diamond variety, Type IIa.
The source states that British jeweler Graff Diamonds, the largest shareholder in Gem Diamonds, previously purchased several of Gem Diamonds’ major finds through the South African Diamond Corporation.
When Barron’s attempted to reach Graff for a comment, the company didn’t offer one.
WHAT ARE THEY DOING WITH IT?
The source mentions that they’ll make a necklace out of it.
Russell Shor, senior industry analyst for the Gemological Institute of America, says that a diamond this size never stays that way — as reports the source.
According to Shor, the 910-carat diamond will be polished and chiseled down to avoid internal flaws. Basically, they’re going to end up with 40 percent of the stone after it’s all said and done.
Gem Diamonds Tweeted early this week that a 910-carat gem was found at the Letseng diamond mine in Lesotho. This diamond is the size of two golf balls and worth an estimated $40 million. Here are the top 8 biggest diamonds in the world, https://t.co/9mo4nRJ5pz pic.twitter.com/AzGS5e3xnF
— My Gift Stop (@MyGiftStop) January 19, 2018
Barron’s reports that smaller stones come out of the process. The source mentions as follows.
“However, according to Shor, smaller diamonds recovered and sold from the famous larger stone may not fetch a higher price on the market than comparable diamonds. Usually, a stone would have to have been owned by a historical figure in order to be valued higher than its size and quality.”
So, in essence, they’re taking this historically-sized discovery and making one piece of jewelry out of it — much like entire trees are used for small pieces of furniture.
The source says: “While Graff fashioned all of 26 stones produced by the Lesotho Promise into one necklace, often the smaller stones are available to purchase separately.”
— mirajish (@mirajish1) January 16, 2018
Smh. Just constantly stripping Africa of its resources.
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[Featured Photo via @ABC / Twitter]