Name of the Project
Karowe underground expansion project.

Location
North-central Botswana.

Project Owner/s
Lucara Diamond Corp.

Project Description
The currently operating Karowe openpit is a conventional load-and-haul operation, with operations expected to terminate in mid-2025 at an elevation of 713 metres above sea level (masl).

The underground project will extend the Karowe mine’s life by 15 years and is designed to support a 2.7-million-tonne-a-year mining operation and processing plant, which will be focused on the South Lobe of the AK06 kimberlite.

The project will involve the extraction of an estimated 400 vertical metres of the South Lobe from 310 masl (700 m below surface) to the bottom of the depleted openpit about 710 masl (300 m below surface).

The project will include an 8.5 m finished internal-diameter production shaft about 767 m deep and equipped to hoist a nominal 7 400 t/d of ore and additional development waste; and a 6 m finished internal-diameter unequipped ventilation shaft with a planned final depth of 729 m.

Total life-of-mine diamond recoveries are estimated at 6.8-million carats.

Potential Job Creation
None stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Preproduction capital costs for the underground project are estimated at $683-million.

Planned Start/End Date
Capital will be expended over an eight-year preproduction construction and commissioning period until the second half of 2027. 
The project will ramp up to full production in the first quarter of 2028.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
JDS Energy & Mining Inc (technical report).

Contact Details for Project Information
Lucara Diamond Corp, tel +1 604 674 0272 or email info@lucaradiamond.com.