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Diamond Business Booms in Lesotho

Diamond Business Booms in Lesotho

Lesotho’s mine in LIQHOBONG has increased in values as diamonds see a boom in the world market after a year-long recession due to the pandemic. The mine, which had to cease its operations from June 2020 to May 2021, is now back on track. Diamonds of the mine doubled in price from $40 to $84 per carat in November.

Liqhobong Mining Development Company (LMDC) is shared by the UK Firestone Diamonds (75%), and Lesotho government (25%).

Ntsane Makhetha from LMDC earlier this week reported diamond values in the world are improving; in November, trial sale of minimal amount of diamond was successful. He stated it’s possible to get back to our status before the coronavirus.

Samira H.

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