The recently recovered gem stone at Lets'eng Diamond Mine in Lesotho has been sold for an estimated M70 million (US$10.4 million).

A press release from Lets'eng Mine on Thursday, says Lets'eng Legacy, 493 carat diamond was sold on tender and SAFDICO, the manufacturing arm of Graff Jewellers won the bid out of 11 other diamantaires.

According to the release, the price represents an extraordinary price per carat of US$ 21,000.00 against a global average diamond price of US$ 81 per carat.

The release further, says Graff Jewellers are one of the world's leading diamond jewelery purveyors and were the winning bidder for the Lesotho Promise diamond in 2006.

It further, says the world's leading diamantaries participated in the tender and the winning bid was made by SAFDICO, the manufacturing arm of Graff jewelers.

The release says there were also strong bids from Rosy Blue and Premier Diamonds.

The Lets'eng Legacy is the world's 18th largest diamond ever recovered, and it is expected to yield a historic polished stone of over 100 carat. It was recovered at Lets'eng-La-Terai Mine in Mokhotlong on September 07 this year.

The sale of the Lets'eng Legacy in Antwerp, Belgium was announced by the Minister of Forestry and Land Reclamation, Mr. Ralechate 'Mokose on behalf of the Minister of Natural Resources, Mr. Monyane Moleleki.

Mr. 'Mokose was accompanied by Lesotho's ambassador to Belgium and Germany, Mrs. Mamoruti Tiheli and Dr. Makase Nyapisi, Gem Diamond management directors and leading figures from the Antwerp diamond community.

Source: LENA 15/11/2007