Lucara Diamond (TSE:LUC) has released an update.
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Lucara Diamond Corp. has released a technical report detailing the anticipated benefits of the Karowe Underground Expansion Project in Botswana, which is set to extend the mine’s life by 15 years, double its operational span, and produce an estimated 6.8 million carats of diamonds. The project, which is already fully financed, anticipates pre-production capital costs of $683 million and projects to generate $1.1 billion in cash flow. This expansion is significant for Lucara, its stakeholders, and the region, promising sustained revenue and benefits well into 2040.
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