Lucapa Mothae (Lesotho) Mine Sale Takes Shape

Rough Market
25/06/2024 10:46

Lucapa announces a conditional Sale and Purchase agreement has been reached with Lephema Executive Transport Ltd, having provided long-term mining services to the mine, for its 70% stake in the Mothae mine in Lesotho. Mid May, Lucapa announced its plans to divest the Lesotho operation in favor of focusing on the miner's assets in Australia and Angola. Pending certain conditions, such as approval from the Lesotho Ministry and the continuation of the SAFDICO Offtake Agreement under new ownership, the transaction, consisting of a nominal purchase price and outstanding technical service payments totaling around 666.7k US$, can be completed.

Photo credit: Lucapa Diamonds - Mothae Rough Diamond