Diamonds / Industry

Lucapa Appoints Former De Beers Co-CEO to Board


Stuart Brown, who was interim co-CEO of De Beers and led two other diamond miners, has become the independent nonexecutive chairman of Lucapa Diamond Company, which owns the Lulo alluvial mine in Angola and the Mothae mine in Lesotho.

Brown has served as CEO of both Firestone Diamonds and Mountain Province Diamonds. At Firestone, which he headed from 2013 to 2018, he raised $225 million to develop the Liqhobong mine in Lesotho. After joining Mountain Province in 2018, he oversaw a processing review at the Gahcho Kué diamond mine in Canada’s Northwest Territories that increased profitability and production.

Prior to those jobs, Brown worked at De Beers for nearly 20 years. He was hired in 1992 as an internal auditor for the Premier mine in South Africa, which De Beers then owned. In 2006, he was appointed the company’s chief financial officer. Brown and Bruce Cleaver were named interim co-CEOs in 2010, but Brown left De Beers the following year.

In addition to hiring Brown, Lucapa appointed Ronald Beevor, the former head of investment banking at Rothschild Australia, to its board.

Lucapa is planning to bring the historic Merlin Diamond Project in the Northern Territory of Australia into production.

(Photo courtesy of Firestone Diamonds)

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By: Rob Bates

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