Gem Diamonds has recovered an exceptional 122-carat D colour Type II white diamond at its 70%-owned Letšeng mine in Lesotho.

This is the first diamond greater than 100 carats that the company has recovered this year.

It only recovered four diamonds greater than 100 carats in 2022  from six in 2021, which was lower than the 14-year average of eight.

This impacted the overall revenue generated last year.

Gem sold 107 498 carats in 2022 generating revenue of $188.6 million, which was 6% lower compared to $201.3 million in 2021.