“The Lesotho Legend” sells for $40 million

Gem Diamonds recovered the 910 carat rough diamond in January.
The world’s fifth biggest gem quality diamond ever found has sold for $40 million , the company that found the massive rough diamond reported.

Gem Diamonds mined the D colourType IIa rough diamond at its flagship Letšeng mine in Lesotho.
The Lesotho Legend was purchased by an anonymous buyer in Antwerp, the company said.

Prior to “The Lesotho Legend,” the largest rough diamond recovered at Letšeng was a 603 carat named Lesotho Promise.

Source: DCLA 

“The Lesotho Legend” sells for $40 million

Gem Diamonds recovered the 910 carat rough diamond in January.
The world’s fifth biggest gem quality diamond ever found has sold for $40 million , the company that found the massive rough diamond reported.

Gem Diamonds mined the D colourType IIa rough diamond at its flagship Letšeng mine in Lesotho.
The Lesotho Legend was purchased by an anonymous buyer in Antwerp, the company said.

Prior to “The Lesotho Legend,” the largest rough diamond recovered at Letšeng was a 603 carat named Lesotho Promise.

Source: DCLA 

Type of ice found trapped in a diamond new to science

Ice VII inclusions found within diamonds is evidence for aqueous fluid in deep in Earth’s mantle.

The inclusions a high pressure form of water called ice VII present in diamonds sourced from between 410 and 660 km depth, the part of the mantle known as the transition zone.
The transition zone is a region where the stable minerals have high water storage capacity.

The inclusions suggest that local aqueous pockets form at the transition zone boundary owing to the release of chemically bound water as rock cycles in and out of this region.

Ice VII is about one and a half times more dense than regular ice but unlike the other phases of ice  ice VII remains fairly stable even as the pressure increases.

Source: DCLA

Type of ice found trapped in a diamond new to science

Ice VII inclusions found within diamonds is evidence for aqueous fluid in deep in Earth’s mantle.

The inclusions a high pressure form of water called ice VII present in diamonds sourced from between 410 and 660 km depth, the part of the mantle known as the transition zone.
The transition zone is a region where the stable minerals have high water storage capacity.

The inclusions suggest that local aqueous pockets form at the transition zone boundary owing to the release of chemically bound water as rock cycles in and out of this region.

Ice VII is about one and a half times more dense than regular ice but unlike the other phases of ice  ice VII remains fairly stable even as the pressure increases.

Source: DCLA

Gem Diamonds sixth large rough diamond for this year

Gem Diamonds at an elevation of 3,100 meters above sea level, The Letšeng Diamond mine is one of the world’s highest diamond mines.

The Letšeng Diamond Mine is having an extraordinary year this far as the miner continues to recover rough diamonds larger than 100 carats at its mine in Lesotho.

On Wednesday, the company announced it had recovered a 152 carat  D colour type IIa diamond, the sixth exceptional large rough diamond so far this year.

Source: DCLA 

Gem Diamonds sixth large rough diamond for this year

Gem Diamonds at an elevation of 3,100 meters above sea level, The Letšeng Diamond mine is one of the world’s highest diamond mines.

The Letšeng Diamond Mine is having an extraordinary year this far as the miner continues to recover rough diamonds larger than 100 carats at its mine in Lesotho.

On Wednesday, the company announced it had recovered a 152 carat  D colour type IIa diamond, the sixth exceptional large rough diamond so far this year.

Source: DCLA 

Firestar Chief Speaks Out on Modi Crisis

Firestar Diamond and its affiliates, following their bankruptcy filing in the wake of fraud allegations against their ultimate owner Nirav Modi, have reported significant interest from companies looking to buy their operations.

The three jewelers — Firestar, A. Jaffe and Fantasy — are seeking an infusion of capital or a sale, and intend to continue business as normal in the meantime, their president, Mihir Bhansali, said in a court filing last week.

The companies have suffered a significant impact to their supply chains since accusations against Modi emerged last month.

The trio’s Chapter 11 process will “add a sense of order,” alleviate some of the concerns that its suppliers and clients have showed, and create a forum for potential purchasers of the businesses, Bhansali explained.

“Early expressions of interest in purchasing some of or all of the debtors’ business operations have been strong,” the executive said in the February 28 filing. “The debtors intend to act quickly and efficiently to determine which of the available restructuring options is in the best interests of the estates, and to preserve the…value of the debtors’ substantial business operations.”

Firestar and Fantasy are in talks with their banks about providing the liquidity the companies need to sustain their operations until they reach a sale, Bhansali continued.

A. Jaffe, which has no secured lenders — a term for those who get paid before other creditors — is also in discussions with suppliers and potential financing sources.

Source: DCLA