Lucapa Diamond has fully repaid all interest-bearing loans received from the gold exploration and mining business Equigold and the Industrial Development Corporation of South Africa (IDC) as of July 4.
Company managing director Stephen Wetherall said they paid the last $1.3 million in principal and interest on the initial $15 million Equigold loan, which was raised in 2018.
Furthermore, Lucapa’s 70%-owned Mothae Diamonds recently completed its final interest payment of R7.3 million to the IDC, completing the repayment of the IDC loan.
“The group will now seek to have all securities with respect to those loans released,” said company managing director Stephen Wetherall.
Lucapa repaid around A$30 million in debt and interest over 18 months.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
