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One of world's largest rough diamonds sells for $12.4 million

October 09, 2006

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Antwerp&$x2014;The Lesotho Promise, the largest uncut diamond excavated this century and the fifteenth largest ever excavated in the world, was sold here today to Safdico for approximately $12.4 million.

The auction was held at the HRD Antwerp Diamond High Council with Mamphono Khaketla, minister of natural resources for Lesotho, announcing the outcome. Interested parties submitted closed bids to the tender competition on the diamond.

The 603-carat diamond (about the size of a hand) is virtually clear and categorized as a class D diamond, according to a statement from HRD. It was found on Aug. 22 in the Letseng mine, owned by the Lesotho government (30 percent) and Gem Diamond Mining Co. of Africa. The country has uncovered other important diamond finds, notably the 601-carat Lesotho Brown in 1967.

De Beers closed the Letseng mine from 1982 until 2004. The diamond was put on the market on Oct. 4, the date the small kingdom celebrates its independence.

"We are proud that a diamond from Lesotho is making history for a second time," said Khaketla.

Freddy J. Hanard, managing director of HRD, said the auction in Antwerp shows that the city remains an important international diamond capital.
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