HomeDiamonds & GemstonesLucapa’s second diamond sale in 2021 fetches US$5.9 million

Lucapa’s second diamond sale in 2021 fetches US$5.9 million

Lucapa Diamond Company and the Government of the Kingdom of Lesotho have announced the results of the second diamond sale in 2021 from the Mothae kimberlite mine in Lesotho.

The 5,619-carat parcel of rough diamonds was sold for US$1,050/ carat or US$5.9 million.

The sale included the 215 carat D-colour stone (213 carat post-boiling weight) and an 11-carat pink diamond.

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Mothae, as a result of the strong production and sales results, has repaid US$2.0 million to Lucapa in respect of the loan advanced for the development, construction and expansion of the mine.

Lucapa MD, Stephen Wetherall, comments:

“Since re-opening following the six-month COVID-19 suspension, Mothae has shown its quality with regular recoveries of large and high-value diamonds leading to run-of-mine diamond prices above US$1,000 per carat for the second sale running.

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“This is ~75% above the average diamond price budgeted for Mothae in 2021 and the mine is still to accrete its 50% share of profits from the new cutting and polishing partnership arrangement.”

“With the positive sentiment returning to the diamond sector we too look forward to Mothae operating at its now expanded capacity of 1.6 Mtpa for the remainder of the year, following the recently announced completion of the expansion project.”