Lucapa Diamonds names Selby as CEO and managing director

Australia’s Lucapa Diamonds (ASX: LOM) has appointed interim chief executive Nick Selby as its permanent CEO and managing director.

Selby, an extraction metallurgist who joined Lucapa in 2014, took the helm in August this year following former boss Stephen Wetherall’s decision to step down.

The new CEO began his career with De Beers, where he spent 19 years in a range of technical roles. He joined Gem Diamonds in 2005, where he was responsible for various diamond projects in countries including Indonesia, Australia, Angola, the Democratic Republic of Congo, the Central African Republic, Botswana and Lesotho.

Lucapa has a 40% interest in the Lulo mine, in Angola, and a 70% interest in the Mothae mine, in Lesotho. The company, debt-free since July, is exploring for more diamonds at Lulo as it works toward bring its Merlin project in Australia into production.

Merlin is home to Australia’s largest mined rough diamond on record and has the potential to be the only producing diamond mine in Australia, following the closure of Rio Tinto’s iconic Argyle mine in 2020, after 37 years in production.

Lucapa shares rose 6% to A3¢ apiece in Sydney on Thursday, valuing the company at A$48.9 million. Its shares traded in a 52-week range of 3¢ and 5¢.