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  Corporate Profile

Lets'eng Diamond mine is situated high in the Maluti Mountains in the Kingdom of Lesotho, southern Africa. Lets'eng Diamonds (Pty) Ltd holds the mining lease granted in 1999 by the Government of Lesotho. Lets'eng Diamonds has two shareholders; Gem Diamonds Limited owns 70% with the Government of the Kingdom of Lesotho owning the remaining 30%.

Operated by De Beers from 1977-1982, Lets'eng reopened operations in 2004 and was acquired by Gem Diamonds in late 2006 for US$118.5 million. Lets'eng continues to deliver exceptional returns for its shareholders, with annual production rising since the takeover from 55,000 carats in 2006 to 110,196 carats in 2011.

Lets'eng processes ore from two kimberlite pipes, Main and Satellite, both bearing extremely low grade ore (averaging under two carats per hundred tonnes), as well as from existing stockpiles. The mine currently processes around 7 million tonnes of ore, producing about 100 000 carats per annum.

Lets'eng is famous for its large, top quality diamonds, with the highest percentage of large (+10.8 carat) diamonds of any kimberlite mine, making it the highest dollar value per carat kimberlite diamond mine in the world. Not only are Lets'eng's diamonds the highest valued kimberlite diamonds in the world, but are also from the highest diamond mine in the world, at an altitude of 3 100 metres.

Lets'eng is also renowned for its production of historic diamonds. In August 2011, a 550 carat white diamond, the Lets'eng Star became the fourth major recovery at Lets'eng since Gem Diamonds' 2006 takeover. It was preceded by the 478 carat Leseli la Lets'eng ('Light of Lets'eng') white diamond in 2008, the 493 carat Lets'eng Legacy white diamond in 2007 and the 603 carat Lesotho Promise white diamond in 2006. Lets'eng has thus produced four of the 20 largest rough white gem diamonds on record. In addition, the 601 carat Lesotho Brown was recovered in 1960.