28-1-2021
Lucara kicks off 2021 with the recovery of two white diamonds weighing 341-carat and 378-carat at Karowe mine in Botswana.
The 378-carat represents the 55th diamond greater than 200 carats to be recovered from Karowe since its operations in 2012. BMO Capital Markets analyst Ray Raj estimated the diamond could fetch over US$15 million.
Lucara's CEO Eira Thomas commented on the encouraging start: “Continued and consistent recovery of large diamonds, such as the 378 carat and 341 carat stones, comes at a critical time and provides continued strength and additional foundation to the opportunity to finance and build the underground expansion at Karowe that will see mining continue for at least another 13 years after the open pit ceases operations in 2026.”
Botswana extended the miner’s Karowe mining licence to 2046, allowing the US$514 million underground expansion project moves to its execution phase.
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