Sourcing

Former De Beers Exec Appointed to Lucapa Board

SourcingApr 09, 2024

Former De Beers Exec Appointed to Lucapa Board

Stuart Brown, who was De Beers’ CFO and interim CEO, is now Lucapa’s independent non-executive chairman.

Lucapa rough colorless and pink diamonds
The 170-carat “Lulo Rose” diamond, right, and the 80-carat colorless diamond pictured beside it were recovered from Lucapa’s Lulo mine. The company, which got a new CEO late last year, recently announced changes to its board.
Subiaco, Western Australia—A longtime De Beers Group executive has joined the board of another diamond miner. 

Lucapa Diamond Co. Ltd. announced Monday that Stuart Brown has been appointed chairman of its board.

Brown served as De Beers’ CFO and its co-acting CEO alongside Bruce Cleaver in 2010 and 2011, the year between CEOs Gareth Penny and Philippe Mellier. 

He is the former CEO of Firestone Diamonds and Mountain Province Diamonds, the mining company that operates the Gahcho Kué mine in partnership with De Beers Canada. 

Lucapa said Brown brings “significant” board experience, as he currently serves as a non-executive director of Ukrainian iron ore mining company Ferrexpo Plc, as well as on its audit and remuneration committees.

He also is a non-executive director and chair of the audit committee for Digby Wells Environmental Holdings Ltd., a provider of ESG consulting services to the mining industry.

 Related stories will be right here … 

Brown joins Lucapa amidst a board shakeup.

The Western Australia-based mining company announced Monday that investment banker Ronald (Ronnie) Beevor is joining the board as independent non-executive director.

The board’s current non-executive chairman, Miles Kennedy, and non-executive director, Ross Stanley, are stepping down, though Kennedy will remain a non-executive director of the company.

All changes are effective immediately.

Lucapa operates the Lulo alluvial mine in Angola and the Mothae mine in Lesotho.

It also is exploring for diamonds in Australia, Angola, and Botswana, and conducting a feasibility study into the development of the Merlin Diamond Project in Australia.

In July 2023, the company announced that CEO Stephen Wetherall would be stepping down at the end of the month.

Nick Selby, the company’s former executive director of operations, is now the company’s CEO and managing director. 

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