Lucapa Diamonds has announced plans to divest its 70% interest in the Mothae mine, located in Lesotho. This decision follows a comprehensive review of the company’s asset portfolio by its newly restructured board of directors.
Chairperson Stuart Brown explained that the company aims to streamline its portfolio to concentrate on core assets in Africa and Australia.
Lucapa’s primary focus will now be on its 60% interest in the Lulo mine in Angola and the Merlin diamond project in Australia’s Northern Territory.
“The Mothae plant has been optimized to recover large diamonds, and we anticipate significant interest from the diamond industry,” Brown stated.
The Mothae mine, an opencast operation situated in the diamond-rich Maluti Mountains, commenced commercial production in 2019.
It is renowned for producing large, high-value diamonds, achieving the second-highest dollar-per-carat for kimberlite diamonds globally.
Lucapa is in the final stages of preparing a data room for interested parties and has emphasized that the divestment process will be a priority.
