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MOTHAE RAKES IN OVER M27 MILLION FROM LATEST SALES

By Staff Writers

A growing producer of high-value diamonds, Lucapa Diamond Company which recently made headlines globally with its rare diamond recovery, has announced the results from the latest sales of diamonds from the Mothae kimberlite mine located in Mokhotlong.

The company said the parcel of 4,376 carats of Mothae diamonds sold for gross proceeds of US$1.8 million (M27.3 million).

This represented an average price per carat of US$400 (M6,000) for the run of mine production.

“The sale result was impacted by the decision to withhold from sale the highest-valued Mothae diamond in the tender – a 36 carat D-colour stone. This diamond is also being considered for cutting and polishing to capture margins from beyond the mine gate,” Lucapa said in a statement on Thursday.

Mothae Mine is located in Lesotho’s diamond-rich Maluti Mountains within 5km of Letšeng Diamond Mine, the world’s highest US$ per carat kimberlite diamond mine.

Lucapa owns 70 percent of the high-value Mothae kimberlite mine in partnership with the government which owns 30 percent.

It completed construction and commissioning of a new 1.1 metric tonnes per annum (Mtpa) Mothae diamond plant in 2018, enabling production to commence in January 2019.

Results have confirmed Mothae is a source of large and premium-value diamonds.

On Wednesday, The Night’s Watch reported that Lucapa discovered a 64 carat stone it is calling the “best quality” diamond mined to date at Mothae mine.

The company said this is the highest-quality diamond found at the deposit to date.

In a statement on Thursday, Stephen Wetherall – the company’s Managing Director – said the latest sale took total Mothae sales to date in 2019 to US$9.0 million (M136 million) at an average price per carat of US$539 (M8,000).

“As set out in the ASX announcement of 6 August 2019, recent recoveries at Mothae have included a 64 carat D-colour Type IIa gem from the higher-margin southern pit. Mothae is planning the next diamond sale for late Q3 2019,” Wetherall said.

He added that: “The new 1.1 Mtpa Mothae kimberlite mine in diamond-rich Lesotho commenced commercial diamond mining operations in January 2019 and has already recovered seven +50 carat diamonds under Lucapa’s ownership.” NW

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