Lucapa’s Mothae Diamonds Fetch US$5.9m in 2nd Antwerp Sale

Mining and Exploration
24/03/2021 09:30

Lucapa announced a parcel of selected Mothae stones including a 213ct white diamond and 11ct pink, was prepared, analyzed and sold successfully in Antwerp for US$1,050/ct or a total of US$5.9m to the miner’s purchasing partner. The sale was conducted under the partnership agreement with the Kingdom of Lesotho, maximizing revenue for the country through a share in the final sales outcome of the (selected) stones from the parcel, once they are polished in Antwerp. 

Lucapa Managing Director, Stephen Wetherall, commented “Since re-opening following the six- month COVID-19 suspension, Mothae has shown its quality with regular recoveries of large and high- value diamonds leading to run-of-mine diamond prices above US$1,000 per carat for the second sale running. This is ~75% above the average diamond price budgeted for Mothae in 2021 and the mine is still to accrete its 50% share of profits from the new cutting & polishing partnership arrangement.”
“With the positive sentiment returning to the diamond sector we too look forward to Mothae operating at its now expanded capacity of 1.6Mtpa for the remainder of the year, following the recently announced completion of the expansion project. ”