Lucara aims deeper

Lucara Diamond Corp, operators of Karowe Mine says it is moving closer to converting the mine into an underground operation.

The mining company, which is reputed for unearthing uniquely large diamonds, started the process of the conversion in 2018 when it embarked on a technical program to support a feasibility level study for a potential underground operation at its mine.

The feasibility study has now been completed and the results were announced in November last year.

The results reveal the potential to double the mine life from the original mine design of 2010 and add net cash flow of $1.22 billion and gross revenue of $5.25 billion.

In addition, the study confirmed that the resource increase value with depth, the company said this week in its financial results for 2019.

The feasibility study results further indicate that on the basis that the underground operations start mid-2020, ore from underground mining will seamlessly integrate into current operations providing mill feed starting in 2023.

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