Lucapa finalises IDC funding for Mothae
Diamond miner Lucapa has locked in R100-million in development funding from South Africa’s Industrial Development Corporation (IDC) for the Mothae kimberlite mine, in Lesotho.
The funding follows the execution of the loan and ancillary agreements and completion of all conditions precedent to the term sheet announced in October.
In addition to the funding from the IDC, Lucapa has also received R20.6-million in proceeds from the sale of diamonds recovered in various campaigns. The company has received up to $15 000/t for individual diamonds.
The ASX-listed company started commercial diamond recoveries through 1.1-million-tonne-a-year treatment plant in early December. The plant is being ramped up to its nameplate capacity and the first sale of commercial diamonds from the mine is scheduled for the first quarter.
The Mothae mine’s production is expected to complement that from the Lulo mine, in Angola.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation