Lucapa Diamond acquired a 70 percent stake in the company Mothae Diamonds, which owns the license for production and other assets kimberlite diamond project Motae (Mothae) in Lesotho.
Inferred reserves project diamonds make up about 1 million carats at a cost of about $ 1 billion.
"This acquisition is carried out in accordance with the stated strategy Lucapa on continued growth as a manufacturer of diamond and exploration company," - said CEO Steven Vezeroll (Stephen Wetherall) .
"Motae complement the production of diamonds from the project Lulo (Lulo) and our very promising and advanced exploration assets for the extraction of kimberlite at Lulo, as well as projects at an early stage of development - Broking (Broking) and" F Zone "Mine Orapa (Orapa)", - he added.
As part of the trial production it was found that in the presence of large Motae type IIa diamonds, including individual stones weighing up to 254 carats, and diamonds are gem quality, which are sold at a price of $ 41,500 per carat.
In November 2015 the diamond Paragon Diamonds has entered into an agreement to buy 75 percent stake in the mine at Motae diamond company Lucara Diamond Corporation for $ 8.5 million, but has not been able to find financing for the purchase.
Lucara, however, in March last year, completed the transfer of its shares Mothae enterprises and mines Motae the Government of Lesotho, which freed the company from all obligations related to the restoration project.
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The Government of Zimbabwe has increased mineral extraction taxes in the country to finance geological exploration and to turn the Minerals Marketing Corporation of Zimbabwe (MMCZ) into a state exploration company.
Zimbabwe has huge reserves of minerals, including diamonds, platinum, gold, nickel, chrome, coal and other types of mineral resources.
Nevertheless, most of the deposits in the country remain undeveloped, since there is no detailed information on the actual reserves of mineral resources.
"We are talking about the fact that we would like to transform MMCZ into a geological exploration company.There is no exploration for exploration, but for mining companies, the extraction tax will be increased by 1%.
These allocations will go to MMCZ to finance exploration work, "said Zimbabwe's mining minister, Walter Chidakwa, quoted by News24, while unnamed sources said that Zimbabwe's operating conditions do not allow companies to conduct further exploration of new projects .
"The expansion of the operations carried out at the expense of exploration, but unfortunately, at the moment of its volume is very small, because the situation in the country uncertain, and investors seeking wasps avatsya of the existing projects, "- said an unnamed official from the Ministry of the Zimbabwe mining industry.
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