MOTHAE KIMBERLITE MINE

Lucapa owns 70% of the high-value Mothae kimberlite mine in partnership with the Government of the Kingdom of Lesotho (30%). Mothae is located in Lesotho’s diamond-rich Maluti Mountains within 5km of Letseng, the world’s highest US$ per carat kimberlite diamond mine.

Lucapa completed construction and commissioning of a new 1.1 Mtpa Mothae diamond plant in 2018, enabling commercial production to commence in January 2019.

Results to date have confirmed that like Lulo, Mothae is also a source of large and premium-value diamonds, including rare Type IIa whites and coloured gems ( View Gallery ).

Large diamond recoveries to date have included a 126 carat gem-quality diamond and six other +50 carat stones.

Mothae diamonds are sold via tender in Antwerp. Sales revenues to date in 2019 total US$13.5 million (A$19.5 million). Individual Mothae diamonds have sold for up to US$36,000 per carat.

While kimberlite material was sourced predominantly from lower-margin zones of the 8.8 hectare kimberlite pipe in H1 2019, mining has since transitioned to the higher-margin southern pit following dewatering into the main water dam.

Initial recoveries from the southern pit include an exceptional 64 carat Type IIa D-colour gem, the first commercially produced diamond from Mothae sold for a price exceeding US$1 million..

Mothae has a +20 year mine life based on its current 1.1 Mtpa throughput rate and the existing JORC resource.