By Thoboloko Nts’onyane

MASERU – In its recent remarkable recovery, the Storm Mountain Diamonds (Pty) Ltd has announced the unearthing of a magnificent pink diamond weighing 108.39ct from its Kao Mine.

The spectacular Type IIa gemstone, which was recovered on March 23, 2023, is said to be one of the largest pink diamonds ever recovered and is expected to fetch an eye-tearing price at auction.

This is according to the statement published by the mine recently.

The Minister of Natural Resources Hon Mohlomi Moleko has praised the discovery, calling it “one of the most significant diamonds found to date in Lesotho.” The diamond’s rarity and quality make it an outstanding find for the Kao Mine.

The Kao Mine has become renowned for its production of large, high-quality pink diamonds, some of the precious stones found by this mine include the Pink Eternity (47.81ct), the Pink Dawn (25.97ct), and the Pink Palesa (21.68ct).

The latest find is exceptional and puts Kao Mine’s status as one of the producers of exceptional pink diamonds.

The diamond is expected to attract interest from collectors and investors worldwide, with the potential to set a high record price for a pink diamond at auction.

Storm Mountain Diamonds operates Kao Mine in Lesotho, which is one of the kimberlite pipes in Lesotho and is reported to be the fourth largest in Southern Africa with an indicated and inferred resource base of 12.7 million carats.

The mine has been in operation for 18 years and produces rare coloured diamonds, which are considered a good investment.

The mine’s processing capacity is standing at around 40% over the past five years and is looking to expand further. Storm Mountain Diamonds is jointly owned by Namakwa Diamonds Limited and the Government of Lesotho, with the government holding 25% of free carry shares.

The company sells its diamonds on tender in Antwerp through its sales and marketing partners.

Storm Mountain Diamonds is  a member of the Responsible Jewellery Council.