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Lucapa Diamond Company Enters Administration, Seeks Buyers for Lulo Mine and Other Key Assets

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Lucapa Diamond Company has entered voluntary administration and is now pursuing a dual-track process of recapitalization and potential sale. The company’s administrators, KordaMentha, will conduct an urgent review of Lucapa’s operations, which span across several diamond projects including Brooking Diamonds, Heartland Diamonds, and Australian Natural Diamonds.

Among Lucapa’s most valuable assets is its 51% stake in the high-value Lulo mine in Angola. Other key interests include the Merlin diamond project and the Brooking exploration project in Australia. Earlier, Lucapa had divested its Mothae mine in Lesotho to streamline operations amid industry headwinds and weak diamond demand.

The move into administration follows a difficult year for Lucapa, with the company reporting a net loss of $1.5 million in 2024 and a 31% drop in revenue to $54.5 million, driven by falling diamond prices. In response, the company had raised $1.9 million through a share placement and purchase plan.

Despite financial pressures, Lucapa increased its stake in the Lulo mine from 39% to 51% in March, aiming to boost returns from the project. The company is now actively seeking investors or buyers for its assets, with administrators inviting expressions of interest. Meanwhile, the Australian Securities Exchange has suspended trading of Lucapa shares, citing concerns over the company’s financial viability.

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DiamondBuzz

De Beers brings Diamonds and Glamour to London

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Insiders suggest a star-studded journey to London might be on the cards. But why London? Beyond its glittering reputation as a global hub for jewellery and fashion, whispers point to something far more dazzling — De Beers is set to host a major showcase in the city.

This year, De Beers Group makes its grand debut at Frieze London, marking a landmark moment where the world of natural diamonds meets the world of art. In collaboration with Frieze Masters, the brand will unveil Voyage Through the Diamond Realm — an immersive experience said to capture the mystery, beauty, and brilliance of natural diamonds like never before.

To bring this vision to life, De Beers has invited India’s leading style and art connoisseurs, including Twinkle Khanna, Ananya Panday, Sara Tendulkar, Karan Johar and many more. Known for their refined taste and appreciation of art and design, these tastemakers are the perfect ambassadors to experience natural diamonds in a whole new light — where every facet tells a story of time, pressure, and perfection.

While details remain under wraps, those close to the brand hint that the experience will be nothing short of transformative — a moment where science, storytelling, and rarity converge to celebrate nature’s most extraordinary creations.

One thing’s certain: when De Beers Group meets Frieze London, the city is bound to shine a little brighter — and perhaps, so will those boarding that flight.

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JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

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