Lucapa Diamond wishes to provide a corporate update following a review of the asset portfolio by the Company’s newly restructured board of directors. The Board is considering all options for the divestment of its 70 percent stake in Mothae and the Company is discussing the options with the Government of the Kingdom of Lesotho, the 30 percent partner in the mine.
The Company is finalising a data room for interested parties. Mothae is an open cast mine located in the diamond-rich Maluti Mountains of the Kingdom of Lesotho which began commercial operations in 2019 and is known to produce large, high-value diamonds which command the second highest dollar per carat for kimberlite diamonds worldwide.
The Board intends to prioritise the divestment process and will update the market in the coming weeks. Lucapa Chairman Stuart Brown said, “On review, it is clear the Company should streamline the portfolio to focus on our core assets in Africa and Australia.
The Company’s collaboration with the Lesotho Government on the Mothae Diamond Mine has been rewarding and our management have worked exceptionally well to optimise the plant to recover large diamonds. We expect there will be significant interest from those within the diamond industry and on a wider scale.”
Lucapa, the diamond miner and explorer with assets in Africa and Australia. It has interests in two producing diamond mines in Angola (Lulo, in which LOM holds 40%) and Lesotho (Mothae, in which LOM holds 70%). The large, high-value diamonds produced from these two niche African diamond mines attract some of the highest prices/ carat globally.
