Following a recent asset portfolio review, Australian diamond miner Lucapa Diamond Company Ltd. is examining all alternatives for divesting its 70% ownership in Lesotho’s Mothae diamond mine. The board is exploring all options for the disposal, and the company is preparing a data room for interested parties.
Mothae is an open cast mine in the diamond-rich Maluti Mountains of the Kingdom of Lesotho that commenced commercial operations in 2019. It is recognized for producing huge, high-value diamonds with the second highest dollar per carat for kimberlite diamonds in the world.
The business stated that it would prioritise the sale process and provide market updates in the following weeks.
Lucapa Chairman Stuart Brown stated, “Upon evaluation, it is evident that the business should consolidate the portfolio to focus on our core assets in Africa and Australia. The company’s engagement with the Lesotho government on the Mothae diamond mine has been fruitful, and our management has worked tirelessly to maximize the plant’s ability to collect huge stones. We anticipate tremendous interest from individuals in the diamond sector and on a larger scale.”