Home » Former De Beers Executive, Stuart Brown, Appointed Lucapa Chairperson

Former De Beers Executive, Stuart Brown, Appointed Lucapa Chairperson

Mountain Province Executive Brings Decades of Diamond Sector Expertise

by Ikeoluwa Ogungbangbe

ASX-listed Lucapa Diamond Company has announced the appointment of Stuart Brown, a seasoned professional with over 30 years of experience in the diamond sector, as the new independent non-executive chairperson. This move follows the stepping down of Miles Kennedy, the former chairperson.

Brown brings a wealth of expertise to Lucapa, having served in key leadership roles at renowned diamond companies such as De Beers, Firestone Diamonds, and Mountain Province Diamonds. Notably, during his tenure at Firestone Diamonds, Brown successfully secured $225 million for the development of the Liqhobong mine in Lesotho. At Mountain Province Diamonds, he spearheaded a processing review at the Gahcho Kue mine in Canada, driving enhanced profitability through increased production throughput.

Currently serving as a non-executive director of London-listed Ferrexpo and chairperson of the audit committee at Digby Wells Environmental Holdings, Brown’s strategic insights and financial acumen are expected to bolster Lucapa’s growth trajectory. Joining Brown on Lucapa’s board is Ronald Beevor, former head of Rothschild Australia’s investment banking division. Beevor brings extensive experience in the mining sector, with directorial roles at Canadian iron-ore miner Champion Iron Limited and Canadian explorer Mont Royal Resources. He also serves as chairperson of Felix Gold, a gold exploration company with assets in the US.

The appointments of Brown and Beevor signal Lucapa’s commitment to leveraging top-tier talent to drive strategic initiatives and achieve its corporate objectives. Expressing gratitude to outgoing director Ross Stanley for his invaluable contributions over the past six years, Kennedy emphasized the importance of Brown and Beevor’s expertise in guiding Lucapa toward its goals.

Lucapa’s portfolio includes a 40% stake in the Lulo mine in Angola and a 70% interest in the Mothae mine in Lesotho, both of which are operational. Additionally, the company owns the Merlin diamond project in the Northern Territory of Australia. With the addition of Brown and Beevor to its leadership team, Lucapa is poised to capitalize on growth opportunities and strengthen its position in the global diamond market.

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