198-carat white diamond found at Letseng mine in Lesotho

Gem Diamonds Ltd has recovered an "exceptional" 198-carat white diamond from its Letseng mine in Lesotho, the company said on Tuesday.

Gem Diamonds said it expected to achieve "an exceptional price" when it sells the diamond this year. It was recovered from the Letseng mine at the end of July.

"The recovery of this large, high-quality white diamond continues to support the Letseng mine's reputation as the most important source of exceptional quality, large diamonds," Chief Executive Clifford Elphick said in a statement.

The Letseng mine, in the Maluti mountains of Lesotho, is known for its large white diamonds. It has produced four of the top 20 largest white gem quality diamonds recorded since Gem Diamonds acquired a 70 percent stake in the mine in 2006.

The government of Lesotho owns the other 30 percent.