SourcingMay 20, 2024
Anglo American Confirms It Is Looking to Sell De Beers SourcingMay 16, 2024
Lucapa to Shed Stake in Lesotho Diamond Mine
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Miner Lucapa Diamond Co. is looking to sell its 70 percent stake in the Mothae Diamond Mine in Lesotho, a small, landlocked kingdom encircled by South Africa.
Subiaco, Western Australia—A diamond mining company with operations in Angola and Lesotho is looking to divest from one of its mines.
Lucapa Diamond Co. Ltd. announced Wednesday that it is looking to offload its stake in the Mothae Diamond Mine, which is 70 percent owned by Lucapa and 30 percent owned by the Lesotho government.
Located in the country’s Maluti Mountains, Mothae is an open-pit mine that began commercial operations in 2019.
It is known for producing large high-value diamonds that, according to Lucapa, command the second-highest dollar-per-carat price for kimberlite diamonds worldwide.
In addition to Mothae, Lucapa holds a 40 percent stake in the Lulo alluvial diamond mine in Angola, with the remaining 60 percent split between state-owned Endiama and Rosas & Petalas, a private company.
Lucapa also has the Merlin Diamond Project in Australia’s Northern Territory, where it is conducting feasibility studies, and is exploring for diamonds in Botswana and Western Australia.
Related stories will be right here …
Lucapa Diamond Co. Ltd. announced Wednesday that it is looking to offload its stake in the Mothae Diamond Mine, which is 70 percent owned by Lucapa and 30 percent owned by the Lesotho government.
Located in the country’s Maluti Mountains, Mothae is an open-pit mine that began commercial operations in 2019.
It is known for producing large high-value diamonds that, according to Lucapa, command the second-highest dollar-per-carat price for kimberlite diamonds worldwide.
In addition to Mothae, Lucapa holds a 40 percent stake in the Lulo alluvial diamond mine in Angola, with the remaining 60 percent split between state-owned Endiama and Rosas & Petalas, a private company.
Lucapa also has the Merlin Diamond Project in Australia’s Northern Territory, where it is conducting feasibility studies, and is exploring for diamonds in Botswana and Western Australia.
“On review, it is clear the company should streamline the portfolio to focus on our core assets in Africa and Australia,” said Lucapa Chairman Stuart Brown.
“The company’s collaboration with the Lesotho government on the Mothae Diamond Mine has been rewarding and our management has worked exceptionally well to optimize the plant to recover large diamonds. We expect there will be significant interest from those within the diamond industry and on a wider scale.”
The Lucapa board said the divestment process is a priority and it plans to update the market in the coming weeks.
The company is finalizing a data room that contains information about Mothae for parties that are interested in purchasing its stake in the mine.
Lucapa’s announcement about its intentions for Mothae came the same week that one of the world’s largest mining companies, Anglo American, also announced plans to streamline its business by divesting.
Anglo is looking to sell off four of its businesses, including De Beers Group and Anglo American Platinum.
More on Sourcing
The Latest
CrimeDec 01, 2025
Fourth Man Charged in Louvre Jewelry HeistThe man, who has a criminal history, is suspected of being the fourth member of the four-man crew that carried out the heist.
AuctionsDec 01, 2025
Christie’s Presents ‘Splendor & Style’ CollectionThe single-owner collection includes one of the largest offerings of Verdura jewels ever to appear at auction, said Christie’s.
IndependentsDec 01, 2025
Lustig Jewelers’ New Owner Is a Fellow Chicago JewelerMichael Helfer has taken the reins, bringing together two historic Chicago jewelry names.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsDec 01, 2025
PGI Debuts Platinum-Filled Holiday Gift GuideThe guide features all-new platinum designs for the holiday season by brands like Harwell Godfrey, Ritani, and Suna.
Weekly QuizNov 20, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsNov 26, 2025
Movado CEO Talks Tariffs, Growing Interest in Accessible Luxury WatchesDuring its Q3 call, CEO Efraim Grinberg discussed the deal to lower tariffs on Swiss-made watches, watch market trends, and more.
TrendsNov 26, 2025
Piece of the Week: Rosior’s Pumpkin RingRosior’s high jewelry cocktail ring with orange sapphires and green diamonds is the perfect Thanksgiving accessory.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
IndependentsNov 26, 2025
Greenwich St. Jewelers Launches Colorful Holiday CampaignThe “Embrace Your True Colors” campaign features jewels with a vibrant color palette and poetry by Grammy-nominated artist Aja Monet.
MajorsNov 26, 2025
Serafino Consoli Names New VP of Sales, Brand Development for the AmericasLuxury veteran Alejandro Cuellar has stepped into the role at the Italian fine jewelry brand.
Events & AwardsNov 26, 2025
Grandview Klein Presents 4 Scholarships in NamibiaThe company gave awards to four students at the Namibia University of Science & Technology, including one who is a Grandview Klein employee.
IndependentsNov 25, 2025
Pearl Stringer Margaret Hoisik DiesShe is remembered as an artist who loved her craft and was devoted to her faith, her friends, and her family.
TrendsNov 25, 2025
Amanda’s Style File: Polka DotsThe polka dot pattern transcends time and has re-emerged as a trend in jewelry through round-shaped gemstones.
CrimeNov 25, 2025
Former Arizona AG Official Charged With Trafficking Stolen JewelryVanessa Hickman, 49, allegedly sold a diamond bracelet that was mistakenly sent to her home.
Events & AwardsNov 25, 2025
GIA Awards Susan Jacques With Its Highest HonorGIA’s former president and CEO was presented with the Richard T. Liddicoat Award for Distinguished Achievement.
Recorded WebinarsNov 24, 2025
Watch: Top Tips for Social Media EtiquetteSocial media experts spoke about protecting brand reputation through behaving mindfully online.
WatchesNov 24, 2025
Breitling Reveals Plans for Gallet, Universal GenèveIn 2026, the three will come together as “House of Brands,” with Gallet sold in Breitling stores and Universal Genève sold separately.
CollectionsNov 24, 2025
Muse Debuts a Wicked 'Have a Heart x Cynthia Erivo' SequelThe second drop, which includes more Elphaba-inspired pieces from additional designers, will continue to benefit nonprofit Dreams of Hope.
IndependentsNov 24, 2025
J.R. Dunn Jewelers Names New PresidentSecond-generation jeweler Sean Dunn has taken on the role.
MajorsNov 21, 2025
Natural Diamond Council Names New CEOAmber Pepper’s main focus will be on digital innovation and engaging younger consumers.
CollectionsNov 21, 2025
Piece of the Week: Melissa Kaye’s ‘Rocky Infinity’ NecklaceThe lariat necklace features a 4.88-carat oval-cut Zambian emerald in 18-karat yellow gold.
AuctionsNov 20, 2025
Vanderbilt Jewels Shine at Phillips Sale, Pink Diamond WithdrawnA 43-carat sapphire brooch from the Vanderbilt collection was the top lot of the Geneva sale.
CollectionsNov 20, 2025
Rebecca Rau Jewels Debuts With ‘Then & Now’ CollectionRau is a fourth-generation art and antique dealer from M.S. Rau gallery whose first jewelry collection merges artifacts with modern design.
Policies & IssuesNov 20, 2025
RJC Names New Executive DirectorFormer De Beers sustainability leader Purvi Shah will take over the role in February 2026.
WatchesNov 20, 2025
LVMH Takes Minority Stake in Citizen Group-Owned Movement Maker La Joux-Perret is based in La Chaux-de-Fonds, Switzerland, and makes solar quartz as well as mechanical watch movements.
GradingNov 20, 2025
Julia Griffith Joins SSEF as Head of EducationShe previously taught at Gem-A and is the founder of The Gem Academy.
CollectionsNov 19, 2025
Larkspur & Hawk Celebrates 25 Years With Helena Bonham Carter CampaignThe British actress and her daughter modeled pieces from the brand’s new “Palette” capsule for its “Once Upon a Time” holiday campaign.
