SourcingJun 25, 2024
Miriam ‘Mimo’ Caplan Joins Family Business as VPSourcingJun 26, 2024
Lucapa Sells Stake in Mothae Mine
The Australian miner has signed over its 70 percent share in the diamond deposit to Lesotho company Lephema Executive Transport.
Lucapa’s decision to shed its stake in the Mothae Diamond Mine in Lesotho is part of a strategy to streamline its portfolio and focus on developing assets in Angola and Australia.
Subiaco, Western Australia— Australian miner Lucapa Diamond Co. Ltd. has announced it will sell its 70 percent stake in the Mothae Diamond Mine to local Lesotho company Lephema Executive Transport.
Lephema has provided long-term mining services for the deposit, which is located in Lesotho, a small, landlocked kingdom encircled by South Africa.
It will give Lucapa a nominal fee of 10,000 Australian dollars ($6,660) for the share. Lephema will also assume all liabilities and guarantee obligations relating to the Mothae mine, the mining company said.
Site owner Mothae Diamonds will pay Lucapa AU$1 million ($665,900) in outstanding technical services payments.
Following the completion of the agreement, which is expected to finalize Sept. 30, Lucapa will continue to provide technical services to Mothae for a minimum of three months.
Lucapa said the Australian Securities Exchange confirmed shareholder approval is not required for the deal.
Conditions of the sale include an approval from the Lesotho Ministry, as well as Lephema’s continuation of the off-take agreement Lucapa signed with Graff subsidiary Safdico, under which the manufacturer purchases 100 percent of the rough from Mothae.
Related stories will be right here …
Lephema has provided long-term mining services for the deposit, which is located in Lesotho, a small, landlocked kingdom encircled by South Africa.
It will give Lucapa a nominal fee of 10,000 Australian dollars ($6,660) for the share. Lephema will also assume all liabilities and guarantee obligations relating to the Mothae mine, the mining company said.
Site owner Mothae Diamonds will pay Lucapa AU$1 million ($665,900) in outstanding technical services payments.
Following the completion of the agreement, which is expected to finalize Sept. 30, Lucapa will continue to provide technical services to Mothae for a minimum of three months.
Lucapa said the Australian Securities Exchange confirmed shareholder approval is not required for the deal.
Conditions of the sale include an approval from the Lesotho Ministry, as well as Lephema’s continuation of the off-take agreement Lucapa signed with Graff subsidiary Safdico, under which the manufacturer purchases 100 percent of the rough from Mothae.
Mothae started mining and processing operations in January 2019.
It has produced several high-value diamonds, including a 215-carat rough in 2021 and a 204-carat rough stone in 2022, as well as various fancy colored diamonds.
Lucapa announced in May that it was looking to offload its stake in the mine, which it owns in part with the Lesotho government, later calling it a non-core asset.
Lucapa Managing Director and CEO Nick Selby, who stepped into the role last summer, said the divestment is a “key step” in the company’s plan to streamline its portfolio and focus on developing its assets in Angola and Australia.
“This agreement is the result of a period of offer and negotiation involving Lucapa and several interested parties,” Selby said. “Lucapa wanted to, as far as possible, see this mine continue to operate and [Lephema is] best placed to achieve this.”
Lucapa owns a 40 percent stake in the Lulo alluvial diamond mine in Angola, with the remaining share split between state-owned Endiama and Rosas & Petalas, a private company.
The miner was conducting feasibility studies at the Merlin Diamond Project in Australia’s Northern Territory, though the large-scale initiative was put on hold in November 2023.
It’s also exploring for diamonds in Botswana and Western Australia.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
Weekly QuizFeb 12, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
TrendsFeb 10, 2026
Bad Bunny Wears Football-Shaped ‘Desert Diamond’ for Halftime PerformanceLady Gaga, Cardi B, and Karol G also went with diamond jewelry for Bad Bunny’s Super Bowl halftime show honoring Puerto Rico.
SurveysFeb 10, 2026
Shoppers to Spend Big on Jewelry This Valentine’s Day, Says NRFJewelry is expected to be the No. 1 gift this year in terms of dollars spent.
FinancialsFeb 10, 2026
Kering Plans Transformation as 2025 Sales Sink 13%As star brand Gucci continues to struggle, the luxury titan plans to announce a new roadmap to return to growth.
SourcingFeb 10, 2026
AGTA To Debut ‘Stuller Color of the Year’ Spectrum Awards CategoryThe new category asks entrants for “exceptional” interpretations of the supplier’s 2026 color of the year, which is “Signature Red.”
Policies & IssuesFeb 09, 2026
U.S., India Trade Deal One Step Closer to Being FinalizedThe White House issued an official statement on the deal, which will eliminate tariffs on loose natural diamonds and gemstones from India.
Events & AwardsFeb 09, 2026
JA Now Accepting Entries for 2026 CASE AwardsEntries for the jewelry design competition will be accepted through March 20.
IndependentsFeb 09, 2026
James Free Jewelers Unveils Revamped FlagshipThe Ohio jeweler’s new layout features a curated collection of brand boutiques to promote storytelling and host in-store events.
TrendsFeb 09, 2026
These 14 Jewels Will Melt Your Heart This Valentine’s DayFrom heart motifs to pink pearls, Valentine’s Day is filled with jewelry imbued with love.
CrimeFeb 06, 2026
Florida Man Sentenced After Selling Fake Native American Jewelry for a Decade Prosecutors say the man attended arts and craft fairs claiming he was a third-generation jeweler who was a member of the Pueblo tribe.
FinancialsFeb 06, 2026
Pandora’s North America GM Departs Amid Executive ChangesNew CEO Berta de Pablos-Barbier shared her priorities for the Danish jewelry company this year as part of its fourth-quarter results.
TrendsFeb 06, 2026
Margot Robbie, Jacob Elordi Wear Matching Cece Jewellery Signet RingsOur Piece of the Week picks are these bespoke rings the “Wuthering Heights” stars have been spotted wearing during the film’s press tour.
MajorsFeb 05, 2026
Pandora to Begin Selling Platinum-Plated JewelryThe introduction of platinum plating will reduce its reliance on silver amid volatile price swings, said Pandora.
SourcingFeb 05, 2026
De Beers Lowers Production Guidance for 2026, Anglo Mulls Another WritedownIt would be the third impairment charge in three years on De Beers Group, which continues to grapple with a “challenging” diamond market.
