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Huge Diamond Worth An Estimated N6.9 Billion Found In Lesotho


– A local miner has managed to find another large diamond at a mine in Lesotho

– The giant diamond is said to be worth an estimated $18 million (N6,958,620,00)

– The diamond was unearthed at Gem Diamonds’ Letseng mine in Lesotho

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A Lesotho miner well-known for unearthing valuable precious stones has managed to discover another monster diamond in Letseng, Lesotho last week. The diamond may be worth an estimated $18 million (N6,958,620,00).

The company that owns the mine, Gem Diamonds, said last week that they unearthed the 442-carat diamond.

Edward Sterck, an analyst at BMO Capital Markets, said it could be worth a whopping $18 million. Despite the global economy and the diamond industry falling due hard times during the global coronavirus pandemic, diamonds of that standard and size are still in high demand.

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Huge diamond worth an estimated N6.9 billion found in Lesotho

The giant diamond is said to be worth an estimated $18 million (N6,958,620,00). Photo credit: Gem Diamonds
Source: UGC

The recovery of this remarkable 442-carat diamond, one of the world’s largest gem quality diamonds to be found this year, is further confirmation of the calibre of the Letseng mine and its ability to consistently produce large, high-quality diamonds,” Clifford Elphick, Gem Diamonds chief executive officer said in a statement.

This is after the company unearthed two diamonds the size of golf balls and worth $40 million two years ago.

Meanwhile, locals shared their thoughts on the find in the tweet below by Lesotho’s deputy prime minister, Mathibeli Mokotho, urging Lesotho to start working on its natural resources policies in a way that such big diamond finds benefit the country as opposed to those of foreigners who are taking advantage of the rich soil.

@MefoloSeleke said:

“My brother, let me tell you something. Every country should own 60% of every foreign company or there’s no business, and labour should be from that country unless there’s a specialised skill that is needed, and in five years that skill should be transferred to people of the country.”

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While @DigitalLesotho said:

“Admitting that we have a problematic policies on our natural resources brings hope there will be change that bring solution. Please do not waste time to intervene. If investors threaten to leave, let them go, we’re getting nothing already!”

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Meanwhile, Legit.ng previously reported that a Tanzanian miner, Saniniu Kuryan Lazier, sold a Tanzanite stone for $2 million weeks after he went viral for mining two gems.

The stone is a blue and violet variety of the mineral zoisite and has only been found in northern Tanzania.

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