• 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

2021 Capital Program

Sustaining capital and existing project expenditures are expected to be up to $21.0 million in 2021, including expenditures associated with the XRT recovery circuit to create redundancy in the Large Diamond Recovery circuit and implementation of body scanning technology (to enhance security).

The proposed underground expansion at the Karowe Mine has an estimated capital cost of $514 million and a five year development period. An investment decision, subject to receipt of all required authorizations and the arrangement of financing, is expected in H2 2021. The year one capital spend on the expansion program is expected to be $105 million.

Operating Costs

$28-$32 per tonne processed

Diamonds Recovered 2021 (Estimate)  340,000-370,000 carats per year 
2021 Diamond Revenue (Estimate)  $195-$210 million (Updated from guidance released on Feb. 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