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Friday, October 06, 2006

MINING: 603-carat gem is now found

Gem Diamond Mining Co. of Africa, is a closely held South African mining company, said it has found the world's biggest diamond in 13 years at Letseng mine in Lesotho and would also sell it.

The 603-carat gem, named Lesotho Promise, is the biggest from the 777-carat Millennium Star, owned by De Beers, was now found in the Democratic Republic of Congo during 1993, said Clifford Elphick, the chief executive of Gem. The Leso-tho Promise is a supposed to be white or type-D diamond, the best grade. Letseng lately sold top-grade uncut gems for $40,000 a carat.

                               

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