Lesotho Mining News

Firestone soars after finding massive diamond at new Lesotho mine

The stock shot up 13% in London Wednesday after Firestone announced it had unearthed an 110-carat yellow diamond, it’s biggest find so far at its Liqhobong mine.

Lucapa adds Motahe project in Lesotho to portfolio, shares jump

The project, which has existing infrastructure, a camp and a diamond processing plant in place, is located just 5km from Letšeng, the highest dollars-per-carat kimberlite diamond mine in the world.

Lucara revenues for first exceptional tender exceed US$51 million

The 10 diamonds, found at the Karowe mine in Botswana, were sold for gross revenues of $33,632 per carat.

World's second-largest diamond to go under the hammer uncut

The rock, discovered by Lucara in Botswana last year, is second in size only to the Cullinan diamond in the British Crown jewels.

World’s second-largest diamond ever found named ‘Our Light’

Canada's Lucara Diamond had launched a a competition to name the rock earlier this year.

Paragon Diamonds halts trading on capital, financial position woes

The Africa-focused miner needs funding to complete the acquisition of the Mothae project and to repay short-term debts, including £500,000 due this week.

Lucara generates strong quarterly cash flow, operating margins

Lucara Diamond Corp. is pleased to report revenues of $90.9 million for the quarter with an operating margin of 88% and revenues of $158.6 million for the nine months to September 2015.

Paragon Diamonds shines bright on better-than-expected results for Mothae

Shares in the Africa-focused diamond miner climbed almost 6% after it revealed the Mothae kimberlite project in Lesotho may be more profitable than previously assumed.

Lucara Diamond to host second stone tender in November

Since the recovery of the first large diamond from the Karowe mine in 2013, Lucara has found 216 gems, which it has sold for more than $250,000 each.

Lucara’s on a roll: three new diamonds recovered at Botswana mine

Since the recovery of the first large diamond from Karowe in 2013, the firm has found 216 gems at the site.

Lucara gets $69 million from first diamond sale, amid tough market conditions

The star of the show was a 341.9 carat diamond —unveiled in April —, which sold for $20.55 million

Paragon Diamonds sees at least $160m in revenue from Lesotho mines

The miner, which does not yet generates any income, expects to kick-off production at its Lemphane and Mothae mines later this year.

Firestone Diamonds delays Lesotho mine launch

Adverse weather conditions and the need to shift more earth than previously anticipated have also added $13 million to overall costs.

Seven diamond miners form group to fight synthetics

But some believe main challenge will be falling prices and wholesalers difficult access to credit to purchase rough diamonds.

Lucara sells stake in African diamond project to Paragon for $8.5m

Developing Mothae and Lemphane concurrently would allow Paragon to benefit from significant economies of scale, said Paragon Diamonds.

Lucara Diamond unearths 342-carat rock at its mine in Botswana

The gem will be sold along with two other greater than 100 carat diamonds, also recovered at Lucara's Karowe mine.

Gem Diamonds: no impact on Letseng from Lesotho crisis

The prime minister of the tiny African nation fled the country over the weekend after what he called a military coup.

Paragon Diamonds interest in Lemphane increased to 100%

Paragon will now hold 80% of the equity in the project, together with the Government of Lesotho holding 20%.

Southern African miners at high risk of dying from tuberculosis — report

The frequency of TB among mineworkers is ten times higher than the level of a health emergency as defined by the World Health Organization (WHO).

The state of global rough diamond supply 2014

50 mines are estimated to account for 90% of global rough diamond supply in 2014.

Diamond values increase at Firestone mine in Lesotho

Company released results of independent analysis conducted over the past 22 months at its Liqhobong mine in Lesotho.

Gem Diamonds fetches over $12m for two of its Lesotho gems

Since Gem Diamonds took control of the Letseng mine in 2006 the mine, it has produced four of the top 20 largest white gem quality rocks on record.

Former DeBeers exec. to lead Firestone Diamonds

Ex-DeBeers CFO will become Firestone's CEO in December.

Lucara hunts for new properties in Africa, set to sell rare pink diamond

Miner has become the third-best performer this year among publicly traded Canadian metal and mining firms.

Paragon Diamonds commissions Lesotho’s Lemphane scoping study

The miner commissioned three companies for scoping and drilling work to help to move its Lemphane kimberlite project in Lesotho to inferred resource status.