In its 2014 operating outlook, the Botswana Stock Exchange (BSE) listed company said it is upgrading and building a plant at Karowe to improve large diamond recovery following continued occurrence of exceptional stones and to enable sustainable processing of harder ore in the south lobe. Construction is scheduled to begin soon and finish later this year at a projected cost of between $45-$50 million. A sustaining capital expenditure of $3.5 million is expected.
William Lamb, president and chief executive officer, said in 2014, it is expected that the scheduled plant upgrade, largely funded from the company’s 2013 year end cash balance will be completed and brought online to deliver sustainable diamond recovery for production of 2.5 million tonnes per annum for the remainder of the mine life. “This upgrade will also include processes to ensure the safe recovery of the value driving large and exceptional diamonds of Karowe,” he said. Lamb added that the company is focused on building on its strong financial position through operational optimisation and focused cost management.
