Lucapa Diamond Corp. sells Mothae parcel for $5.6m averaging highest dollar per carat price

Stephen Wetherall, CEO, Lucapa Diamond Company

LUCAPA Diamond Company sold 4,676 carats recovered from its Mothae mine in Lesotho for $5.6m, the company said today.

At $1,198 per carat, the diamonds fetched the highest average dollar per carat price achieved by Mothae of any run of mine production parcel.

“The good recoveries at both mines and growing demand leading to strengthening diamond prices has seen a strong start to 2021,” said Stephen Wetherall, MD of Lucapa Diamond.

The sale included a number of diamonds weighing more than 10.8 carats, deemed to be ‘specials’. These included the 101 carat D colour diamond recovered following re-opening of Mothae in the fourth quarter – the most valuable diamond recovered to date at Mothae.

Lucapa said in October it had re-opened Mothae mine following a six month Covid-19 induced hiatus. This would enable Lucapa to deliver into its new marketing channel announced in September. In terms of the agreement, Lucapa will sell its goods directly to diamantaires, and participate in the margins of the polished goods.

The diamond market is slowly recovering after seeing the pandemic all but dry up sales earlier in the year.

In December, Anglo American CEO, Mark Cutifani, said his company was expecting markedly better trading conditions in the diamond market from 2021 which could last for up to three years. Anglo American owns 85% of De Beers.