Karowe Overview
| Location | Botswana |
| Ownership | 100% - Lucara Botswana (Pty) Ltd. |
| Royalty | 10% |
| Type | Hard rock. Open pit. Mine plan to depth of 324 m. Underground operations to commence Q1 2028. |
| Status | Mine development and production |
| Resources and Reserves | See Link |
| Mine Life | Open pit operations to 2026 with further underground operations to 2040. Mining License in respect of the Karowe Mine has been approved by the Botswana Government to 2046. |
| Production | 2.5 - 2.8 mtpa |
| 2025 Capital Program | The underground project is approved, with an expected capital cost of $683 million, of which $380 million has been spent as of end of Q1 2025. In 2025, capital costs for the underground expansion are expected to be up to $115 million. Sustaining capital is expected to be up to $13 million for the year. |
| 2025 Outlook – Total operating cash costs per tonne processed (Estimate) | $28.50 to $31.00 |
| 2025 Outlook – 2025 Diamonds Recovered (Estimate) | 330,000 carats to 360,000 carats |
| 2025 Outlook – 2025 Diamond Revenue (Estimate) | $150 million to $160 million |
| Diamonds | Large high value diamonds including exceptional stones |
| Diamond Sales |
1. Regular tenders of diamonds less than 10.8 carats held quarterly |
| Annual Information Form (AIF) | Project Description and Geological Information AIF |
| Underground Project |
1. Link to the 2023 Karowe Mine Underground Feasibility Study Technical Report Botswana |
| Cautionary and Forward Looking Information | |
