Gem Diamonds Ltd. discovered the gem at its Letseng mine in Lesotho. The Letseng mine is famous for the size and quality of the diamonds it produces and has the highest average selling price in the world. Two years ago Gem Diamonds found a 910-carat stone, the size of two golf balls, that sold for $40 million.

Experts say that although the diamond industry has suffered as a result of the COVID-19 pandemic, demand for larger stones is more stable, given their rarity.

Source: Bloomberg