Lesedi La Rona fails to sell at auction
Thursday, June 30, 2016
Bids for the 1,109-carat, tennis ball-sized stone topped out at $61 million - an amount that fell short of the undisclosed minimum reserve price.
Sotheby's had estimated that the diamond, found last November at Lucara's mine in Botswana, would sell for more than $70 million.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...