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Lucara progresses P6bn underground mine

Back on track: Lahri expects the underground mine to begin production by 2026 PIC: MORERI SEJAKGOMO
Back on track: Lahri expects the underground mine to begin production by 2026 PIC: MORERI SEJAKGOMO

Lucara Diamond Corporation expects to spend $110 million (P1.3 billion) this year in developing an underground operation at its Karowe Mine where full production is due by 2026.

Karowe, situated near Letlhakane, has become world-famous for large diamond discoveries such Lesedi la Rona, the Constellation and Sewelo. The underground mine represents Karowe’s future and is expected to yield additional revenues of $4 billion (P47 billion) up to at least 2040.

Progress at the underground operation was interrupted by COVID-19, with officials cautioning that budgets and equipment procurement could be affected.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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