"The acquisition of this huge high-quality white diamond again confirms the reputation of the Letseng mine as the world's most important source of large diamonds of exceptional quality," said Clifford Elphick, CEO of the company.
Gem Diamonds owns a 70 percent stake in the Letseng mine, which is known for discoveries of large exceptional white diamonds, and is a kimberlite diamond mine with the world's highest average carat cost per carat.
After the acquisition of Letsseng in 2006, Gem Diamonds produced four of the world's twenty largest diamonds of jewelry quality at the mine.