Mining and exploration company Lucapa Diamonds will sell its 70% stake in the high-value Mothae diamond mine in Lesotho. The decision was made following a review of its core assets by the company’s newly restructured board of directors.
Announced by Lucapa Diamonds Chairman Stuart Brown on May 15, the company is currently discussing divestment options with the Lesotho government – which holds the mine’s remaining 30% stake – while finalizing a data room for interested parties.
“The company’s collaboration with the Lesotho government on the Mothae diamond mine has been rewarding and our management have worked exceptionally well to optimize the plant to recover large diamonds,” Brown stated.
In addition to the mine itself, Lucapa Diamonds will also sell its processing plant, a 400-person camp, three freshwater storage dumps, a tailing storage facility and existing buildings and infrastructure.
The open pit mine produces large, high-value diamonds and serves as the second highest dollar-per-carat kimberlite diamond mine in the world. The Mothae diamond mine produced 8,545 carats in the first quarter of this year, marking an increase of 13% in output compared to the same period in 2023.