2 December 2025
Lucara Diamond Corp. (“Lucara” or the “Company”) is pleased to announce the execution of the lateral development contract (the “Contract”) for the Karowe underground project (the “UGP” or the “Project”) with Group R Mining and Exploration Botswana (Pty) Ltd. (“Group R”).
The Company has entered into the Contract for the execution of all underground lateral development from the production and ventilation shafts to the orebody, including construction of the extraction level, underground crushing chamber, fine ore bins, pump stations with associated vertical dams, drilling horizons, workshop facilities, and all connecting infrastructure required to advance development toward the kimberlite in accordance with the Project schedule.
The decision aligns with Lucara’s commitment to the successful development of the UGP, which will extend the life of mine at Karowe and maintain its position as a leading producer of large, world-class, high-quality diamonds. PDF Version
Group R are expected to mobilise in Q2 2026, with lateral development work commencing in July 2026. Recruitment and work permits will start in early 2026, with a focus on local employment. Lucara has initiated detailed engineering of the lateral development portion of the UGP and is finalising an updated life-of-mine plan based on the results of the simulation work (see Q3 2025 Results news release for more details).
William Lamb, President and CEO of Lucara, commented,
“We are pleased to announce the award of this critical Contract to Group R, marking an important milestone in the continued development of our underground project.
The award of the last major contract for the UGP reflects our commitment to maintaining momentum on the Project and delivering the Project safely, responsibly, and in accordance with our schedule. We are confident that Group R’s expertise and proven track record will support our vision for a world-class underground mine.”
Hannes van Staden, CEO of Group R, remarked,
“We are honoured to partner with Lucara on this crucial phase of the Karowe underground project. Our team is dedicated to upholding the highest standards of safety, quality, and operational excellence as we collaborate to open the next chapter of this world-class asset.
We look forward to utilising our expertise and contributing to the long-term success of the mine and the communities it benefits.”
About Lucara
Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Diamond Mine in Botswana. The Karowe Mine has been in production since 2012 and is the focus of the Company’s operations and development activities. Lucara has an experienced board and management team with extensive diamond development and operations expertise.
Lucara and its subsidiaries operate transparently and in accordance with international best practices in the areas of sustainability, health and safety, environment, and community relations. Lucara is certified by the Responsible Jewellery Council, complies with the Kimberley Process, and has adopted the IFC Performance Standards and the World Bank Group’s Environmental, Health and Safety Guidelines for Mining (2007). The development of the UGP adheres to the Equator Principles. Lucara is committed to upholding high standards while striving to deliver long-term economic benefits to Botswana and the communities in which the Company operates.
Source: https://shorturl.at/TEhz0
