{"id":1091354,"date":"2018-12-21T17:20:30","date_gmt":"2018-12-21T17:20:30","guid":{"rendered":"http:\/\/www.mining.com\/?p=960832"},"modified":"2018-12-21T17:20:30","modified_gmt":"2018-12-21T17:20:30","slug":"lucapa-diamond-locks-in-mothae-mine-funding","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1091354","title":{"rendered":"Lucapa Diamond locks in Mothae mine funding"},"content":{"rendered":"<p>Australia\u2019s Lucapa Diamond (ASX:LOM) has <a href=\"https:\/\/www.lucapa.com.au\/sites\/default\/files\/asx-announcements\/6914684.pdf\"  rel=\"noopener\">locked in 100 million rand<\/a> (about $7m) in development funding from South Africa\u2019s Industrial Development Corporation (IDC) for its 70%-owned Mothae, in Lesotho.<\/p>\n<p>Commercial production at the mine, which the Perth-based company <a href=\"http:\/\/www.mining.com\/lucapa-adds-motahe-project-in-lesotho-to-portfolio-shares-jump\/\"  rel=\"noopener\">acquired in early 2017<\/a>, began earlier this month via a <a href=\"http:\/\/www.mining.com\/lucapa-kicks-off-commercial-production-mothae-diamond-mine\/\"  rel=\"noopener\">new 1.1 million tonne-per-year plant<\/a> that is progressively ramping up to its nameplate capacity.<\/p>\n<p>The government of Lesotho owns the remaining 30% in the mine, which is located just 5km from Let\u0161eng, the world\u2019s\u00a0<a href=\"http:\/\/www.mining.com\/gem-diamonds-shares-fire-miner-finds-910-carat-rock\/\"  rel=\"noopener\">highest dollars-per-carat kimberlite diamond<\/a> operation.<\/p>\n<p>The first sale of commercial diamonds from Mothae is scheduled for the first quarter of 2019, the company said in the statement.<\/p>\n<p>In addition to the funding from the IDC, Lucapa now counts with $1.5 million from the sale of roughly 4,000 carats produced via bulk sampling at the Lesotho mine.<\/p>\n<p>Lucapa is also furthering two exploration projects in known diamond provinces. One is at Brooking in the West Kimberley lamproite province of Western Australia. The other is a the Orapa Area F project in its namesake mine in Botswana, where it plans to drill kimberlite targets during the first quarter next year.<\/p>\n<p>The also holds a 40% stake in the prolific Lulo mine, in Angola, which hosts the world\u2019s highest dollar-per-carat alluvial diamonds.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/lucapa-diamond-locks-mothae-mine-funding\/\">Lucapa Diamond locks in Mothae mine funding<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian diamond miner has secured 100 million rand (about $7m) in development funding for the Lesotho mine from South Africa&rsquo;s Industrial Development Corporation (IDC). <\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/lucapa-diamond-locks-mothae-mine-funding\/\">Lucapa Diamond locks in Mothae mine funding<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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