Published by Jaroslaw Adamowski
Funds for African investment Australia’s Lucapa Diamond says it has secured $15 million in funding to develop its Mothae kimberlite diamond project in Lesotho, in southern Africa.
“This facility … ensures that the company, together with the Government of Lesotho, will bring Mothae on stream in 2018, adding a second cash producing asset and high-value producing mine to the group that will complement the top-quality diamond production from Lulo,” said Stephen Wetherall, the company’s managing director, as quoted in a statement.
Last January, Lucapa announced it obtained a 70% stake in the Mothae kimberlite project in an international tender run by the Kingdom of Lesotho. The country’s government remains the company’s partner, with a stake of 30% in the project.
Lucapa’s flagship asset is the Lulo Diamond Project in Angola. The company is listed on the Australian Securities Exchange (ASX).