478-carat diamond goes for $18.4 million

Antwerp, Belgium - The 478-carat diamond recovered from an African mine in September has sold for $18.4 million and is expected to yield a polished stone of at least 200 carats.

Safdico, the manufacturing arm of high-end jeweler Graff Diamonds, outbid six other diamantaires to snatch up the stone, named "Leseli la Letseng" (the light of Letseng), at a tender in Antwerp, Belgium, recently, according to a release from Gem Diamonds Ltd.

The stone, recovered from the Letseng le Terai Mine in the African kingdom of Lesotho, is the 20th-largest rough diamond ever recovered and is believed to have outstanding color and clarity.

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