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Lucara’s mining licence for Karowe renewed to 2046

patriot by patriot
February 8, 2021
in Business
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Lucara’s mining licence for Karowe renewed to 2046
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Lucara Diamond announced on Monday that the application for the renewal of mining licence for its Karowe mine has been approved by Botswana’s Minister of Mineral Resources, Green Technology and Energy Security.

According to the company’s statement, the renewal is effective January 4, 2021 for a period of 25 years, securing Lucara’s mining rights to 2046 and marks a critical step in the formal sanction of the Karowe underground expansion project.

President and CEO Eira Thomas commented, “The receipt of our mining licence renewal and extension to 2046 is an important milestone for the Karowe underground expansion project, paving the way for the completion of a supplemental debt financing and full project sanction later this year. We look forward to continued cooperation and a mutually rewarding partnership with the Government of Botswana.”

The company said that the Karowe underground expansion project, which continued to advance in 2020 under a revised US $22 million budget in response to Covid, has an estimated capital cost of $514 million and a five-year period of development, with first ore anticipated from underground in 2026.

Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe mine in Botswana.

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  • VACANCIES: BR PropertiesMay 17, 2022
    INTERNSHIP OPPORTUNITY Finance and Administration Closing date: 18th May 2022.
  • BANANA CLUB HOSTS FIRST MAUN EDITIONMay 17, 2022
    The artist-led collective, Banana Emoji Productions in collaboration with the European Union Delegation in Botswana hosted the beloved BANANA CLUB dialogues in Maun on the 14th of May 2022.  The multi-disciplinary creative group is committed to working with artists […]
  • Orange Botswana CEO among Africa’s most inspirational women in leadershipMay 12, 2022
    – Declares House of Rose House of Rose Professional Pte. Ltd (HORP) has announced its 2022 List of Africa’s Most Inspirational Women in Leadership. The list included over 100 inspirational leaders and was curated by House of Rose Professional […]
  • Unions ‘consider’ a Workers PartyMay 12, 2022
    Masisi snubbed trade unions on Workers Day, chose Khawa BOFEPUSU warn Masisi that Khawa could cost him elections Opposition will be top beneficiary of a Workers Party -Analyst BAKANG TIRO editors@thepatriot.co.bw Aggrieved trade union federation, Botswana Federation of Public, […]
  • Munyadzwe breeds, commercialises phane wormMay 12, 2022
    “We have had clients from as far as England, Ethiopia, Nigeria, Ghana and they really like the phane worms. People are talking about snack protein, and we are part of that revolution, food security, healthy sources of protein, going […]
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