ASX-listed Lucapa Diamond is considering all options for the divestment of its 70% stake in Mothae Diamond Mine, an open-cast mine located in the Maluti Mountains of Lesotho.
The company said in a statement that it is discussing the options with the government of Lesotho, which has a 30% shareholding in the mine.
“On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” said Lucapa chairperson Stuart Brown.
“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.”
Lucapa has a 40% stake in Angola’s Lulo alluvial mine and owns the Merlin Diamond Project through its wholly-owned subsidiary, Australian Natural Diamonds.
The company is also exploring for potential primary source kimberlites or lamproites at the Lulo concession, the Brooking project in Australia and the Orapa Area F project in Botswana.
Lucapa said it is finalising a data room for interested parties.
Mothae began commercial operations in 2019 and is known to produce large, high-value diamonds, which command the second highest dollar per carat for kimberlite diamonds worldwide.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
