Lucapa Diamond has submitted a diamond marketing proposal to the government of Lesotho who are 30% partners in the Mothae diamond mine.
Mothae is currently mothballed due to the ongoing impact of the COVID-19 pandemic and Lucapa seeks to restart operations at the mine as “soon as possible”.
The ASX-listed company said it believes that the proposal underpins the future of the Mothae diamond mine, especially in these uncertain times.
“The Mothae diamond mine is an important contributor to the Basotho nation and Lucapa’s strong marketing proposal, we believe, will see the full value of the Mothae kimberlite mine unlocked,” Lucapa managing director Stephen Wetherall.
The commercial terms of the proposal are subject of current interaction with the government and the key terms, which include an offtake arrangement, will be outlined in a separate update once finalised, said Lucapa.
Lucapa sold 3,962 carats of Mothae diamonds into a cutting and polishing partnership during the second quarter for gross sale proceeds of $2 million, representing an average price of $505 per carat.
Total sales year to date totalled 10,268 carats for $4.1 million or $402 per carat.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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