Debswana, Lucara roll out expansion plans
STAFF WRITER
editors@thepatriot.co.bw
Amid the rippling effects of Covid-19 pandemic which has stalled developments and left many people jobless, Debswana and Lucara mining companies are bringing a light of hope to Boteti region, one of the poorest areas in Botswana despite being endowed with diamonds.
The two mining companies have announced their strategy to ensure that they continue mining in the area which in turn is expected to turn around the fortunes of the area. This week, Lucara Diamond Corporation President and Chief Executive Officer Eira Thomas announced that they have secured project financing debt package of up P22 billion to fund the underground expansion at Karowe Mine. “The Facilities will include two tranches: A project finance facility of US$170 million to fund the development of the underground project, and a working capital facility of US$50 million to support the on-going operation of the Karowe open pit mine,”
. Karowe mine license extended to 2046
. $514 million is project estimated budget
BAKANG TIRO
editors@thepatriot.co.bw
Lucara says during the year ended December 31, 2020 it spent over P200m ($18.7 million) on its Letlhakane-based Karowe mine’s underground expansion project.
Lucara revealed the developments on its Quarter 4 2020 sales and operational results this week, saying the money was spent on project execution activities including a geotechnical test pitting and drilling and completion of two pilot holes at the shaft locations.
The company is embarking on mining underground at its wholly-owned top gemstone producer based in Botswana in effort to expand mine’s output level.
Lucara Diamond Corporation in a press release dated January 26, 2021, just 12 days after the announcment of the recovery of the first large rough diamond for the year, the 341-carat top white, gem-quality diamond, on January 14, 2021, announced the surprising recovery of a second +300-carat gem-quality, top white diamond, from their 100% owned Karowe Diamond Mine in Botswana. The rough diamond is the 55
th over 200-carat diamond to be recovered from the mine, since the year 2015.
378 carat gem quality top white rough diamond
The second recovery is a magnifiient unbroken Type Iia, 378-carat, gem-quality, top-white diamond also recovered from milling of ore sourced from the M/PK(S) unit of the southwestwern quadrant of the South Lobe, renowned for the recovery of large gem-quality diamonds. Both the 378 carat and the 341 carat diamonds were recovered from the Coarse XRT circuit. The second recovery this year is a further testament to the strong resource and process circuit performan
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