LUCARA TO GENERATE $1.3 BILLION FROM KAROWE MINE

The underground expansion will also extend the life of the mine to 2038 Lucara Diamond Corporation has confirmed that Botswana’s Karowe Diamond Mine is set for a new and lucrative chapter, with an underground expansion expected to generate more than US$1.3 billion in net income and extend the life of the mine until at least 2038.

The announcement follows the release of an updated feasibility study this past Monday that assesses the technical and financial strength of the underground mining project at Karowe. The study shows that while open pit mining is approaching its natural end, some diamond resources remain deep below the surface, making underground mining both practical and profitable.