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493-carat 'Letseng Legacy' up for auction

November 09, 2007

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Antwerp, Belgium—The world's 18th-largest rough diamond, which was recovered from the Letseng le Terai Mine in Lesotho this past September, now has a new name: The "Letseng Legacy."

The 493-carat white diamond will be auctioned in Antwerp next week, according to Gem Diamonds Ltd. and the Government of the Kingdom of Lesotho, the two entities that own the Letseng le Terai Mine.

The name of the exceptional diamond reflects the growing legacy that the mine is creating as a producer of remarkable diamonds. Thus far, it has produced three of the world's top 20 diamonds: this one found on Sept. 7; the "Lesotho Promise," a 603-carat diamond recovered in August 2006 and ranked as the world's 15th-largest rough diamond; and the "Lesotho Brown," found in 1967 and ranked 16th-largest in the world.

WWW International Diamond Consultants will sell the Letseng Legacy on tender on Nov. 14 at a ceremony and press conference hosted by the Antwerp World Diamond Centre and attended by Lesotho Minister of Natural Resources Monyane Moleleki and the Gem Diamonds directors.

The Lesotho Promise sold on tender in October 2006 for $12.4 million to Graff Jewellers. The collection of polished diamonds from the stone is expected to sell between $25 million and $30 million. When the Lesotho Brown was cut, it yielded 18 polished diamonds, the largest of which was recently re-acquired by the original buyer, Harry Winston.
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