Gaston International DMCC (part of Jemora Group), a UAE-based metals and mining investment company, has announced that it has entered into a binding term sheet with the administrator of Lucapa Diamond Company, an ASX-listed company, to acquire 100% issued share capital of Lucapa, said Dev Shetty, founder and CEO of Gaston.
Dev Shetty
“Investing in Lucapa marks a defining moment for our group, coming just two weeks after our recent acquisition of Chacarilla Copper Mine in Bolivia,” Mr Shetty said on his LinkedIn page.
“This acquisition adds to our portfolio of world-class assets, notably the world’s highest dollar-per-carat diamond mine, the Lulo Mine in Angola.”
While the global diamond market faces a challenging period, Gaston’s team — recognised for revitalising underperforming assets and developing some of the world’s largest gemstone mines — is confident in unlocking Lulo’s full potential.
“After completing the transaction, we will focus on increasing Lulo Mine production, accelerating kimberlite exploration in Angola, and carrying on with the strategic review of the Australian Merlin Mine,” Mr Shetty said.
“We will also continue expanding our mining portfolio, with a focus on energy transition, precious metals, and gemstones.”
