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
CrimeMay 13, 2026
JSA’s 2025 Crime Report Shows ‘Concerning’ Rise in ViolenceWhile the overall number of crimes was down, there were more incidences in which robbers pulled out guns, mace, or rammed cars into stores.
IndependentsMay 13, 2026
New Orleans Jeweler Closing Canal Place StoreJack Sutton Fine Jewelry is closing its store inside the downtown shopping center after 40 years in business.
TrendsMay 13, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
ColumnistsMay 12, 2026
It’s Official: We’re Getting ‘Brain Rot’ From Watching Short-Form Videos Peter Smith gives tips on leading meetings, developing marketing, and making trade show appointments in the age of short attention spans.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 12, 2026
Jessica McCormack Debuts Antique Coin-Inspired Medallions for SummerThe 11-piece “Medallions” capsule collection features five motifs: a crying eye, a heart on fire, a spiral, a flower, and a swallow.
IndependentsMay 12, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 12, 2026
The Tiffany & Co. x CFDA Jewelry Designer Award Is BackThe partners have announced the second cycle of the program, which has expanded to include a $25,000 student scholarship.
IndependentsMay 11, 2026
Kansas Jeweler Closing After 70 YearsThe owners of Staats Jewelers are heading into retirement.
TrendsMay 11, 2026
Former Macy’s CEO Joins Signet Jewelers BoardJeffrey Gennette, who retired in 2024 after 41 years with Macy’s, is the newest member of the jewelry retailer’s board of directors.
TrendsMay 11, 2026
Amanda’s Style File: Lucky May May babies are lucky to have emeralds, a gemstone admired for centuries, as their birthstone, writes Amanda Gizzi.
TechnologyMay 11, 2026
Clientbook’s New Tool Helps Jewelers Plan In-Store EventsThe new module allows retailers to plan, promote, and measure the success of events from a single dashboard.
Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
MajorsMay 07, 2026
Gannon & Scott Names New Regional Account ExecutiveIn his new role, sales specialist Billy Welshoff will focus on the eastern United States.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
MajorsMay 06, 2026
Saks Global Begins Layoffs, Reorganization Plans Closer to ApprovalThe retailer will cut 16 percent of its corporate workforce as part of its plan to exit bankruptcy.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
