Lucara closes in on budget for Karowe's P6bn underground project

Friday, January 08, 2021

Going deeper: Karowe Mine is set for underground expansion PIC: LURACA DIAMOND

Lucara Diamonds expects to have financing in place by the second half of the year for its US$514 million (P6 billion) underground project at Karowe Mine in the Boteti sub-district, BusinessWeek has learnt.

The Karowe mine, situated near Letlhakane has become world famous for large diamond discoveries such Lesedi la Rona, the Constellation and Sewelo. The underground mine, due to be developed over five years to 2026, represents Karowe’s future

In statement on Monday, Lucara president and CEO, Eira Thomas said the company was finalising discussions around debt financing for the underground project and expected these to be concluded in the second half of this year.

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Lucara closes in on budget for Karowe's P6bn underground project

Lucara Diamonds expects to have financing in place by the second half of the year for its US$514 million (P6 billion) underground project at Karowe Mine in the Boteti sub-district, BusinessWeek has learnt.

Five in court for stock theft

Pastor gets 14-year imprisonment for raping minor

Murder accused prison warder for psychiatric assessment

Anglo, De Beers face billion-dollar diamond shake-up

Selefu

Selefu

NOW! online platform launched

Nick Cannon announces Wild 'N Out Africa

Women unite for progress