Rapaport News




Advanced search
Latest Articles
Rough Markets
Polished Markets

Lucapa on Track to Develop Mothae Mine

Trial mining at the asset yields 23,000 carats of high-value rough diamonds.
May 28, 2017 10:27 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Lucapa Diamond Company has secured $14.2 million (AUD 19 million) in funding to acquire and develop the high-value Mothae mine in Lesotho, the company said Friday.

The package puts Lucapa on track to start commissioning Mothae in the first quarter of next year, it said. Trial mining produced more than 23,000 carats of rough diamonds, including stones of up to 254 carats, with individual diamonds selling for as much as $41,500 per carat, the miner reported.

Lucapa signed an agreement in January to acquire a 70% stake in Mothae for $9 million; the Lesotho government retains the rest. Lucara Diamond Corporation originally owned the mine, but offloaded it in 2015. Lucapa also owns the Lulo mine in Angola, another high-value asset, which last year yielded rough with an average price of $2,983 per carat.
Tags: Angola, Lesotho, lucapa, Lucapa Diamond Company, lucara, Lucara Diamond Corporation, Lulo, mines, mining, Mothae, Rapaport News
Similar Articles
AlrosaAlrosa Sales Decline at Slower Rate
Oct 15, 2019
Alrosa’s sales fell 24% year on year to $258.7 million inSeptember,...
Alrosa Finds Diamond Inside a Diamond
Lesotho Renews Letšeng Lease
US Bans Import of Zimbabwe Diamonds
BDBIndia’s Polished Trade Declines
Oct 03, 2019
India’s polished-diamond exports fell 25% to $1.64 billion inAugust, data...
Mining for information
De Beers Hires New Auctions Exec
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us