Industry News by Nemesis

Lucapa Rakes in $3.5 Million From Second Mothae Diamond Tender

May 30, 2019

 

Lucapa Diamond has raked in $3.5 million (A$5 million) from this year’s second tender of 7,008 carats of rough diamonds from the new Mothae kimberlite mine in Lesotho. 


The ASX-listed diamond company said the Antwerp included prices of up to $26,000 per carat paid for individual Mothae gems.  


The latest result brings to $7.3 million the total sale proceeds generated from the two tenders of Mothae diamonds completed this year.  


This represents an average overall price of $588 per carat for the run of mine production and $729 per carat for diamonds in the +11 sieve size fraction. 


“We continue to be encouraged by the regular recovery of Specials and sales results achieved from the supposed lower-margin areas of the Mothae kimberlite pipe,” said Lucapa managing director Stephen Wetherall.  


The company was considering a third tender in the first half of the year following the continued strong recoveries from the new 1.1 Mtpa kimberlite plant, including the 126 carat gem-quality diamond recovered earlier this month and other Type IIa Specials. 

 

Image credit: Lucapa

 

Source: Rough&Polished

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