By:Thoboloko Ntšonyane
MASERU – Letšeng Diamonds reports latest recovery of 2024.
This was published in a statement last week.
The mine recovers a 212.49ct type IIa white diamond in its Letšeng la Terae.
“Letšeng Diamonds is pleased to announce the recovery of a remarkable 212.49ct type IIa white diamond. This is the sixth greater than 100 carat diamond recovered at the Letšeng Mine this year,” reads the mine statement.
While Letšeng Diamonds does not unearth as many diamonds as other mines operating in the country, when it does, it is usually a talk of town recovery that attracts great attention to the mine and to the country.
According to Lesotho’s laws and regulations, the mines remit to the government their income from production or profits, royalties, and dividends. These exclude taxes levied on consumption such as the value added taxes (VAT) as mines are exempted from remitting this tax.
The Lesotho Chamber of Mines reported last year that four mines currently active in the country have injected to the tune of M5.1 billion into the country’s economy in 2022.
The report further stated that by the end of 2022, they had employed 2 997 people of whom 98% were the locals.
Letšeng Diamonds is owned by the Gem Diamonds and the government of Lesotho has a 30% stake in this mine.
The year 2020 saw the government renewing the Gem Diamonds mine lease by 19 years. Also, in the same year, this mine has increased the diamond sales rates from eight to 10%.