Industry News by Nemesis

Lucapa Prepares for Mothae’s First Run of Mine Sale in Antwerp

February 6, 2019

Lucapa Diamond, which has a 70 percent stake in Lesotho’s Mothae, said it is preparing for its first run of mine sale that will be convened in Antwerp this month. 


This comes after seven large diamonds, weighing 498 carats, from the company’s 40 percent-owned Lulo alluvial mine, in Angola were sold last week for $16.7 million or at an average price of $33,530 per carat. 


Lucapa chief executive Stephen Wetherall noted in a paper seen by Rough & Polished on Monday ahead of his presentation at a mining conference in Cape Town that specials being recovered at Mothae included high colour whites weighing 78 carats and 38 carats as well as an 89 carat yellow. 


Lucapa acquired the mine in 2017 and it installed a new Mothae plant, which incorporated advanced diamond recovery technology, including two XRT diamond recovery modules designed to recover large and rare Type IIa diamonds. 


More than 4,100 carats of diamonds had been recovered from the bulk sampling of areas within the Mothae kimberlite pipe which had not previously been or had been inadequately tested during the previous trial mining phase. 


Lucapa previously said it was targeting to produce about 44,000 carats of diamonds at Mothae over the first three years of commercial recoveries.  


An independent JORC resource estimate for Mothae was 1 million carats of diamonds at a modelled average diamond value of $1 063/carat – the second highest JORC average price per carat in the world. 

 

Source: Rough&Polished

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