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- Lucapa Diamond Company (LOM) and its partner, the Government of the Kingdom of Lesotho, have recovered a 101-carat white diamond from the Mothae mine in Lesotho
- Lucapa considers the recovery of this D-colour, Type IIa white diamond as a reinforcement of the quality and capacity of the Mothae resource
- Following the latest find, the southern lobe of the Mothae mine has now recovered four diamonds over 100 carats
- Currently, the diamond miner is working towards increasing Mothae’s processing capacity by 45 per cent, which was recently supported by a $10 million raise
- In early morning trade, Lucapa is up 7.02 per cent and trading at 6.1 cents
Lucapa Diamond Company (LOM) and its partner, the Government of the Kingdom of Lesotho (GoL), have recovered a 101-carat white diamond.
The diamond was recovered from the Mothae kimberlite diamond mine in Lesotho, which is one of the highest-quality kimberlite diamond mines in the world.
Following the latest find, the southern lobe of the Mothae mine has now recovered four +100-carat diamonds.
Lucapa considers the recovery of this D-colour, Type IIa white diamond as a reinforcement of the quality and capacity of the Mothae resource.
Notably, the D-colour diamond is the largest Type IIa recovery that Mothae has recorded.
“The recovery of this exceptional 101 carat diamond brings a positive end to 2020 for Mothae and its hard-working teams,” Managing Director Stephen Wetherall said.
Lucapa and the GoL hope to recover more diamonds of this quality and size once they complete the recently announced planned expansion of the Mothae mine in the first quarter of next year.
Last month, the diamond company inked a $10 million raise to support the expansion of processing capacity at the Mothae mine.
The $8.5 million upgrade will increase capacity by 45 per cent from 1.1 million tonnes per annum to 1.6 million tonnes per annum. This is expected to increase production, revenues, and improve unit operating costs.
“Lucapa and the Government of Lesotho look forward to completing the capacity expansion already underway at Mothae and to producing many more exceptional diamonds from this resource,” Stephen concluded.
In early morning trade, Lucapa is up 7.02 per cent and trading at 6.1 cents.
