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Mothae outshines African counterpart

by Lesotho Times
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Seithati Motšoeneng

Mothae Kimberlite Mine has beaten its Angolan sister company, Lulo Alluvial Mine, in diamond production from the period January to June 2023.

The two companies are owned by Australian company, Lucapa Diamond, with Mothae situated in Butha-Buthe while Lulo is in Angola.

Mothae discovered a total of 15 560 carats while Lulo managed to extract 15 367 carats.

Lulo started commercial production in 2015 while Mothae commenced in 2019.

According to the half-year results issued by Lucapa Diamond Company on Monday this week, business is booming at Mothae which has recorded a profit of USD3.3 million (M62.7 million) for the first half of this year as opposed to last year’s loss of USD307 thousand (M5833 million).

Unlike last year, Lucapa Diamond Mine has, this time around, realised a significant increase in the average price per carat costing of USD1 633 (M31 027), while in the first half of 2022, it was $1 201 (M22 819).

The company also realised a profit of USD3.6 million (M68,4 million) for this year’s first half and is moving into the last half debt-free. This is unlike the previous year where it moved into the second half of the year with a loss of USD13.4 million (M254.6 million).

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