Staff Reporter
AUSTRALIAN mining giant, Lucapa Diamond Company, has put its Butha-Buthe situated Mothae Diamond Mine on sale.
Mothae is an open cast mine which began commercial operations in 2019. It is known to produce large, high-value diamonds. These include a 215 carat D-colour Type IIa, a 204 carat Type IIa and rare pink, blue and yellow fancy coloured diamonds which have been recovered at the mine over the years.
Lucapa owns 70 percent stake while the Lesotho government owns the remaining 30 percent.
The mining company announced its intention to sale its stake in a statement yesterday.
“Lucapa 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. The Board intends to prioritise the divestment process and will update the market in the coming weeks.”
Lucapa chairman, Stuart Brown, said in the statement the disposal plan was meant to streamline the company’s portfolio “to focus on our core assets in Africa and Australia”.
In addition, Lucapa managing director, Nick Selby, said, “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.”
