Gem Diamonds, which recently discovered one of the world’s largest diamonds in Lesothe, South Africa, has acquired Calibrated Diamonds Investment Holdings from Petra Diamonds for $5.9 million (£3.2 million)

Gem Diamonds, which recently discovered one of the world’s largest diamonds in Lesothe, South Africa, has acquired Calibrated Diamonds Investment Holdings from Petra Diamonds for $5.9 million (£3.2 million).

Under the terms of the agreement, Petra will also be able to use Gem Diamonds’ extracted ore technologies to cut and polish their diamonds.

Gem Diamonds recently announced the appointment of the Antwerp-based executive team from Matrix Diamond Technology who will be establishing Gem Diamonds’ cutting and polishing facility in Dubai.

The facility in Dubai will support a portion of Gem Diamonds’ rough diamond production by making use of sophisticated rough diamond mapping and analysing technology.