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.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

The Projects Magazine today launched The Future of Mining Summit, set to become the country’s premier mining conference. The event is scheduled for 12th and 13th of June 2024, at Boipuso Hall, Fairgrounds in Gaborone.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

Staff Writer | 6 h ago

MISA Botswana celebrates World Press Freedom day

Staff Writer | 7 h ago

Unlawful wounding turns to murder

Sharon Mathala | 7 h ago

Mahalapye suspected copper cable thief nabbed

Pini Bothoko | 7 h ago

TAFIC targets top four finish

Larona Makhaiza | 11 h ago

Selefu

11 h ago

Selefu

11 h ago

Repatriation underway for seven SA Pilgrims

Boikanyo Mathonsi | 1d ago

Stakeholders must step up veggie supply

The Ministry of Agriculture, local producers, retailers, and industry associations must work together to overcome the obstacles hindering vegetable production and distribution.This collaborative approach is essential to improve the availability, quality, and affordability of vegetables in the market.Firstly, the Ministry of Agriculture should provide support and guidance to local farmers to enhance their productivity and efficiency. This could...

The Monitor Editor | 29 April 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More

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.

The projects magazine in collaboration with Stanbic bank launched the future of mining summit 2024

MISA Botswana celebrates World Press Freedom day

Unlawful wounding turns to murder

Mahalapye suspected copper cable thief nabbed

TAFIC targets top four finish

Selefu

Selefu

Repatriation underway for seven SA Pilgrims

Stakeholders must step up veggie supply