Chief government Eira Thomas mentioned the now absolutely financed undertaking would lengthen Karowe’s mine life to at the least 2040. Additionally it is projected to ship at the least $4 billion in extra revenues utilizing conservative diamond value assumptions.
“We consider this growth undertaking comes on the proper time available in the market cycle, with enhancing provide and demand fundamentals serving to to stabilize and assist stronger diamond costs within the quick and long run,” she famous.
Lucara says Karowe stays one of many highest margin diamond mines on the planet, , producing an average of 300,000 high-value carats each year.
The mine, which started industrial operations in 2012, has already change into the one one in recorded historical past to have yielded two 1,000+ carat diamonds — the 1,758 carat Sewelô in 2019 and the 1,109 carat Lesedi La Rona in 2015, which bought for $53 million.