8 January 2025
Canadian mining company Lucara Diamondhas publishedan updated feasibility study for the Karowe underground diamond mine in Botswana.
According to the study, the underground project will operate for 10 years, producing an estimated 4.5 million carats of diamonds while extending the mine’s operational life.
Approximately 28.5 million tons of ore will be mined, with 37.3 million tons processed. The project will be developed as a 2.85 million tons per annum underground mine and processing plant, with full production anticipated in H1 2028.
Up to $779 million in capital expenditure is required for the project, with $436 million invested over the past five and a half years and the remaining $343.2 million set to be funded through operating cash flow and new equity and debt financing.
The mine extension project is expected to generate over $1.3 billion in net revenue.
Source: https://shorturl.at/SbfyP
