Lucapa unearths Mothae’s largest diamond yet

220 carat low quality diamond recovered from the Mothae kimberlite mine in Lesotho.

Lucapa Diamond Company has recovered two additional 100-plus carat diamonds from the Mothae kimberlite mine in Lesotho, southern Africa.

The 220-carat stone is the largest of the three 100-plus carat diamonds recovered from Mothae since commercial production commenced in January. The stone, along with the 127-carat diamond, was recovered from the treatment of recovery tailings.

Lucapa stated the two diamonds were not of high quality, but they continued to underline the large-stone nature of the Mothae deposit.

The company has unearthed five major diamonds from Mothae prior to this latest discovery but none was close to the 100-plus carat size.

Lucapa has fetched $US9 million ($13.2 million) from three tenders of Mothae diamonds.

“The decline in global rough diamond demand throughout 2019 brought about by factors including macroeconomic uncertainty, rising inventories and liquidity issues in the midstream has impacted the revenues of all diamond producers and industry sentiment,” Lucapa managing director Stephen Wetherall said in the company’s September quarter report.

“However, in line with the more recent tender results reported by other producers, we were encouraged to see a distinct uplift in competitive bidding in our most recent Mothae tender.”

The Mothae mine continues to perform well in its first year of production, with another monthly production record of 3096 carats in October alone.

Lucapa holds 70 per cent stake in Mothae, with the remaining 30 per cent held by the Government of the Kingdom of Lesotho.

The company’s flagship asset, the Lulo diamond project in Angola, has also produced more than 12 diamonds weighing more than 100 carats to date. The mine held the highest US dollar price per carat for an alluvial diamond mine as of April this year.

Lucapa is on track to achieve its production target for 60,000 carats of high-value diamonds from both Mothae and Lulo in 2020.

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