Karowe Mine

The Karowe diamond mine, located in Botswana, is a state-of-the-art mine which was fully commissioned in Q2 2012. Karowe, which means precious stone in the local language, is a large-scale asset with tonnage and throughput upside and is one of world’s foremost producers of large, high quality, Type IIA diamonds in excess of 10.8 carats, including the historic 1,109 carat Lesedi La Rona and the 813 carat Constellation.

2019 Guidance

$US170-200M Revenue
300K-330K ct Production
2.5-2.8 MTPA Ore Mined
2.5-2.8 MTPA Ore Processed
OWNERSHIP:
100% - Lucara Botswana (Pty) Ltd.
ROYALTY:
10%
TYPE:
Hard rock. Open pit. Mine plan to depth of 324 m.
STATUS:
Mine development and production
MINE LIFE:
Open pit operations to 2026 with further underground potential
THROUGHPUT:
2.5 - 2.8 mtpa

Karowe Mine Summary

RESOURCES AND RESERVES

The mine plan is based on:

  • Probable reserves from surface to a depth of 324 m below surface of 19.84 mt containing 2.6 million carats, total Mineral Reserve (including stockpiles) of 25.40 mt containing 2.96 million carats (effective date of May 25, 2018, based on 1.25mm bottom cut off size and 70% of the insitu carats at 1.00 BCOS).
  • A total Indicated resource from surface to a depth of 600 m below surface of 57 mt containing 7.9 million carats including stockpiles (effective date of May 25, 2018, based on 1.25mm bottom cut off size and 70% of the insitu carats at 1.00 BCOS).
  • Inferred resource from 600 m to 750 m below surface of 1.93 mt containing 1.17 million carats.

2019 CAPITAL PROGRAM

Sustaining capital and project expenditures are expected to be up to $14.0 million in 2019, including expenditures associated with the construction of an additional slimes dam, maintenance related to the XRT recovery circuit, and a provision for the implementation of body scanning technology to enhance security.

OPERATING COST

Karowe 2019 operating cash costs are forecast to be between $32.00 - $37.00 per tonne including waste mined, contract mining and process plant operations.

Karowe Diamond Mine

AK06 Kimberlite
2018 Resource Update

2018 Underground FS underway

2017 Underground Preliminary Economic Assessment (PEA)

Positive outcome, Phase 3 plant upgrade (4-8mm XRT)

2016 Resource expansion

Drilling initiated

2015 Constellation Diamond 813ct

Recovered Nov 17, 2015

2015 Lesedi La Rona 1,109ct

Recovered Nov 16, 2015

2013 resource update

Start of large diamond recoveries

2012 commercial production achieved

2010 Feasibility Study (FS)

FS updated and Lucara acquires 100% ownership

1969 Discovery

Renewed delineation and sampling in early 2000’s

180 diamonds

Sold for over $1 million each

10 single diamonds

Sold for over $10 million each

2.4 million carats

Sold