MASERU
Letšeng Diamonds held a media engagement session at its premises in Maseru last Friday this year. Through its Chief Executive Officer, Motooane Thinyane, Letšeng said its purpose for the session is to formally build a formal platform over which it can engage with the media, and by extension, the general public.
Thinyane said by the way of its importance within Lesotho’s economy and within Lesotho mining sector, Letšeng has and contributes to attract a lot of attention. He said since its commercial establishment in 2004, Letšeng has grown from a small mining operation to what it is today.
Additionally Thinyane said Letšeng is 30% government owned and the 70% is owned by Gem Diamonds. He said all expenses or most expenses are incurred by Gem Diamonds as a major shareholder and has all the financial muscle to do. He stated that this does not make Lesotho’s benefits less but rather it is a fair share as there are royalties and lease fees that contribute to economy growth and community projects.
Thinyane said the question that should be addressed is why the Lesotho government would want an increase from the 30% it already has while there is so much risk. “Can we drive the capacity to build that element, can we reach that level to sustain the mine ourselves?”
He said Letšeng produces high quality diamonds even though the produce in small quantity and sell to Belgium. “We recently found the sixth large diamond that weighs 212.49 carat type lla white diamond.” He said most of the money received goes to revenue but if the sales are good part of the money is corporate in social responsibility and investment (CSRI).
Tšepo Hlojeng added that allocation of 1% of dividends or M500 000, 00 or whichever will be greater is used in annual budget to corporate in social responsibility and investment. He added that Letšeng offers internship programme to 8-15 students per annum and also establish an educational trust.
Statistics shows that Letšeng has employed 1239 Basotho since 2013 and the number has decreased to 1110 to 2024. Hlojeng indicated that these are semi-skilled and unskilled Basotho. The number of expatriates was 56 in 2013 and has decreased to 9 in 2024, and this shows that it is in few departments where the company has to find expects from other countries.
Hlojeng said Letšeng does not want to be seen as a mini-government but it does strategies and analysis for it to be able to help the community around the mine. He said there enterprises development as the mine cannot hire all community members. “There is a wool and mohair project from 2011 to 2014 and there is Butha-Buthe vegetable project from 2014 to 2016,” said Hlojeng.
In Conclusion Hlojeng said they are willing to share and engage media in all aspects and they are open to be held accountable on facts.
