Lucapa Diamond Company has signed an agreement with the Government of Lesotho to acquire a 70% interest in Mothae Diamonds, which holds the mining licence related to the advanced Mothae Kimberlite Diamond Project (MDL), according to a press release.
Following the agreement, which was signed after the issuance of a new ten-year mining licence to MDL for Mothae, Lucapa appointed three of its representatives to the board of MDL and has paid $400,000 to the government of Lesotho – the first payment of its 70% interest.
Mothae used to belong to Canadian miner Lucara Diamond Corporation, which put it for sale in 2015. In Early February, Lucapa said it plans to bring the project into production within 12 months, “under staged low-risk development strategy”.
Lucapa is the owner of the Lulo mine in Angola, and the earlier stage Brooking and Orapa Area F projects, in Australia and Botswana, respectively.
