Australian miner Lucapa and the Govt of the Kingdom of Lesotho have announced the third sale of 2021 of Mothae rough achieved US$1.5m or US$420/ct. All of Mothae’s diamonds are brough to Antwerp where they are prepared for sale and sold in Antwerp. The parcels that form part of Lucapa’s and the Govt of Lesotho’s partnership deal with Safdico are then studied and cut and polished in the city by a preeminent cutting facility.
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 announces its Mothae expansion project, the re-commissioning of the upgraded processing plant, was completed successfully, expanding processing capacity at the Lesotho kimberlite mine by 45%, to 1.6 million tonnes per annum starting Q2 2021. Lucapa's Mothae production is sold via tender in Antwerp, alongside partnerships with manufacturing companies in accordance with the marketing agreement the company made with the Government of Lesotho, to maximize on the added value generated by the cutting and polishing and final sales of its precious resources.
In a first sale of Mothae goods this year, Lucapa's Mothae operation sold 4,676ct of rough for nearly US$5.6m, with a number of high value "specials" diamonds (10.8ct+), including the 101 D colour rough recovered at the end of 2020. The rough diamonds, achieving a record price of US$1,198/ct were prepared, analysed and sold in Antwerp to partners, in line with the new marketing agreement Lucapa and the Government of Lesotho made last year, to see Mothae benefit from the cutting and polishing of its precious resources.
In a latest update, Australia based miner Lucapa has adjusted its indicated and inferred diamond resource estimates at the Mothae operation to an estimated 280k ct, 3.1cpht at an average value of US$635/ct and 960k ct, 2.44cpht at an average value of US$601/ct respectively. In the release, Lucapa managing director Stephen Wetherall commented on the 280% increase in indicated resource; " The increase in tonnes and carats, ..., strongly supports an expansion in production at Mothae that the partners are considering"
Mining Review reports that Lucapa's Lesotho Mothae mine, which had been placed on care and maintenance due to the pandemic at the end of March, will resume activities later this year. In addition, the Lesotho government has approved a proposal that will allow the Australia-based miner to market its rough diamonds through direct partnerships with diamantaires, similar to what Lucapa has implemented for its Lulo (Angola) operation. “Mothae is a unique mine and an important contributor to the Basotho nation.
Following the discovery of a 64-carat rough that the company considers the highest-quality diamond from the Mothae Mine to date, Lucapa Diamond Company has announced earnings of $6.2 million (AUS$8.8 million) from the latest sales of diamonds from the Lulo alluvial mine in Angola and the Mothae kimberlite mine in Lesotho. The latest sales from Lulo and Mothae take total sales from both mines to US$35.5 million (A$50.2 million) for the year to date.
Lucapa Diamond Company is expecting to start turning an operational profit this year after achieving exceptional prices for its rough diamonds at its H1 tenders in Antwerp. The miner says it has also delivered on key operational goals at its Lulo (Angola) and Mothae (Lesotho) diamond mines in the June 2019 Quarter as well as in the first half of 2019. In H1 2019, the company recovered 20,504 carats and banked $US29.4m (AUS$41.9m) from sales.
ASX-listed Lucapa Diamond Company held the second tender in 2019 of diamonds from the new Mothae kimberlite mine in Lesotho, selling a parcel of 7,008 carats of rough diamonds sold at Bonas tender house in Antwerp for a total of US$3.5 million (A$5 million). The tender included prices of up to US$26,000 per carat paid for individual Mothae gems.
Lucapa Diamond Company has recovered of a gem-quality, 126-carat diamond from the new Mothae kimberlite mine in Lesotho. The 126-carat stone is the largest diamond recovered since commercial mining operations commenced in January 2019 and the largest gem-quality diamond ever recovered from Mothae.
Lucapa Diamond Company last week has agreed on funding and refinancing arrangements which will improve its financial position and reduce its financing costs, the company said in an ASX announcement. The move will enable Lucapa to reduce the higher-cost debt used to fund the development of the new high-value Mothae diamond mine in Lesotho.
Australian junior miner Lucapa Diamond Co. held the first sale of diamonds at the Bonas tender house in Antwerp from the new 1.1Mtpa Mothae kimberlite plant in Lesotho, marking the mine's arrival on the international market. The parcel of 5,411 carats of rough diamonds recovered during the plant ramp-up phase in Q4 2018 and in the first month of commercial mining operations at Mothae in January 2019 sold at tender in Antwerp for a total of US$3.8 million.
Lucapa Diamond Company has commenced commercial diamond recoveries at its new 1.1Mtpa (million tons per annum) Mothae mine, a "high-quality kimberlite resource" located in Lesotho. Lucapa has been developing a new mine at Mothae throughout 2018 to complement production from the high-value Lulo mine in Angola. During Q4 2018, Lucapa completed construction of Mothae's new treatment plant, which incorporates two XRT diamond recovery circuits, and commenced the commissioning phase.
Lucapa Diamond last week adopted a new development plan for the high-value Mothae kimberlite diamond project that foresees increases in targeted production, cash flows and mine life. The improvements to targeted production and cash flows include: a 22% increase in diamond production to 498k carats, a 30% increase in kimberlite material mined to 25 million tons and a 12% increase in mine life to 13.5 years.
Australian junior miner Lucapa Diamond Company today announced it has secured $15 million in debt financing to bring its high-value Mothae kimberlite diamond project in Lesotho into production in 2018. The secured US$15 million three-year debt facility has been arranged with private Singaporean company Equigold. It is repayable in eight quarterly payments commencing December 2018, by when Lucapa expects Mothae to be in steady state production under its Phase 1 development plan.
Lucapa Diamond Company secured $14.2 million (AUD $19 million) in funding for the acquisition and advancement of the high- value Mothae Kimberlite Diamond Project located in the southern African country Lesotho. The funding sets Lucapa on track to commence commissioning Mothae in the first quarter of 2018 under a staged, low-risk development plan.
Lucapa Diamond Company has posted a maiden JORC resource estimate for the Mothae Kimberlite Diamond Project located in the southern African country Lesotho, and has updated its JORC diamond resource for the Lulo Diamond Project in Angola. The maiden Mothae JORC estimate is over one million carats of diamonds with an average modelled value of $1,063 per carat, while the Lulo report notes a 10% increase in volume over the
The Lulo alluvial diamond venture in Angola has declared US$8 million in a combined distribution and capital repayment, and Lucapa Diamond - as operator and funder of both the Lulo alluvial mining and kimberlite exploration programs – will be entitled to receive a gross amount of US$5.6 million (A$7.3 million), the company writes in an ASX statement.
Australia's Lucapa Diamond mining company has made 70 percent acquisition of the high-qualiy advanced stage Mothae Kimberlite project in Lesotho for US$9 million dollars, the company reports. This comes after the Government of the Kingdom of Lesotho awarded the advanced Project to Lucapa following a competitive international tender process. Mothae has existing infrastructure and camp in place including a diamond processing plant, which Lucapa says should enable it to bring the mine into production within 12 months under staged low-risk development strategy.
Koin International DMCC, a specialist rough and polished diamond tender house, is organizing a rough diamond tender in Antwerp from 24 -31 May 2016. It will offer goods from Ekapa Minerals, Diamcor Mining, Klipspringer Mines, and for the first time in Antwerp will tender rough diamonds from the Mothete Mine in Lesotho. Over 89,000 carats of original rough production from Ekapa Minerals will be sold via tender. The Ekapa Minerals tender will include diamond production from their recent purchase of De Beers’ substantial tailings in Kimberley, South Africa.
Paragon Diamonds Limited's has been attempting to acquire a majority stake in Lucara/Lesotho's Mothae mining project since May 2015, and the Lesotho government approved the acquisition back in August. Paragon agreed to pay Lucara Diamond Corp. $8.5 million for its 75% stake in Mothae, and Lucara was to receive 5% of the profits from the sale of polished diamonds from Mothae and 5% of the profits achieved from the sale of rough diamonds not selected for polishing.