• Operations

Karowe Overview

Ownership100% - Lucara Botswana (Pty) Ltd.
TypeHard rock. Open pit. Mine plan to depth of 324 m.
StatusMine development and production
Resources and ReservesSee Link
Mine LifeOpen pit operations to 2026 with further underground potential to 2040. Mining License in respect of the Karowe Mine has been approved by the Botswana Government to 2046.
Throughput2.5 - 2.8 mtpa

2022 Capital Program

In 2022, capital costs for the underground expansion are expected to be up to $110 million and will focus on the commencement of main shaft sinking activities, the commissioning of the bulk power supply 132 kV line and substations and detailed engineering for the underground development. Sustaining capital and project expenditures are expected to be up to $17 million with a focus on completion of a community sports facility, dewatering activities and an expansion of the tailings storage facility.

Operating Costs

$29.50 -$33.50 per tonne processed

2022 Diamonds Recovered (Estimate)  300,000-340,000 carats per year 
2022 Diamond Revenue (Estimate)  $195-$225 million (updated from guidance released in Nov. 2021) 
DiamondsLarge high value diamonds including exceptional stones
Diamond Sales

1. Regular tenders of diamonds less than 10.8 carats held quarterly
2. Sales of diamonds in excess of 10.8 carats through HB Antwerp Supply Agreement
3. Regular sales through Clara

Annual Information Form (AIF)Project Description and Geological Information AIF
Underground Expansion Program

1. Link to the 2019 Karowe Mine Underground Feasibility Study Technical Report Botswana
2. Link to the 3D Model

Cautionary and Forward Looking Information