{"id":33119,"date":"2023-08-24T16:02:29","date_gmt":"2023-08-24T16:02:29","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=33119"},"modified":"2023-08-24T14:15:07","modified_gmt":"2023-08-24T14:15:07","slug":"lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023","title":{"rendered":"Lucara Spent P300m on Karowe Mine\u2019s Underground Development in Q2 2023"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Lucara Diamond Corporation has expended $22.5 million (equivalent to approximately P302 million) on advancing the underground expansion (UGP) of the Karowe Diamond Mine during the second quarter of 2023.<\/b><\/p>\n

This expenditure was primarily allocated to ongoing construction endeavours, as detailed in the quarterly report just released by the prominent player in Botswana\u2019s mining industry.<\/p>\n

Throughout the three-month period ending on 30 June 2023, the company extracted a total of 0.7 million tonnes of ore (compared to 1.1 million tonnes in Q2 2022) and 0.9 million tonnes of waste (compared to 0.4 million tonnes in Q2 2022).<\/p>\n

Specials<\/p>\n

In tandem with this, the mine yielded 90,497 carats (compared to 86,317 carats in Q2 2022), exhibiting a recovered grade of 12.6 carats per hundred tonnes of directly processed milled ore (in contrast to 12.0 carats per hundred tonnes in Q2 2022).<\/p>\n

Notably recognised for its retrieval of \u2018specials,\u2019 referring to diamonds surpassing 10.8 carats in size, Lucara displayed its expertise by unearthing a total of 162 special diamonds during this period.<\/p>\n

This impressive feat encompassed 13 diamonds exceeding 100 carats, with four of them surpassing 200 carats in weight. These extraordinary discoveries accounted for 6.6 percent of the total recovered carats from processed ore during Q2 2023, a slight increase from 6.1 percent in Q2 2022.<\/p>\n

Solid results<\/p>\n

President and CEO of Lucara Diamond Corporation, Eira Thomas, remarked on the company\u2019s performance, stating: \u201cIn Q2, Karowe continued to deliver solid results according to plan.<\/p>\n

\u201cAs our operations recommenced in the south lobe, the proportion of special diamonds \u2013 those exceeding 10.8 carats \u2013 escalated. This period saw the retrieval of 13 stones surpassing 100 carats, which will be meticulously polished and slated for sale in the latter half of this year.<\/p>\n

Despite adjustments to our projected timeline and budget due to the expansion\u2019s rebase, resulting in a cost increase of approximately 25 percent, our surface stockpiles remain sufficient to ensure full mill capacity utilisation.<\/p>\n

\u201cConsequently, the project maintains its economic resilience. It is worth noting that our principal shareholder continues to lend unwavering support to this expansion initiative.\u201d<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Lucara Diamond Corporation has expended $22.5 million (equivalent to approximately P302 million) on advancing the underground expansion (UGP) of the Karowe Diamond Mine during the second quarter of 2023. This expenditure was primarily allocated to ongoing construction endeavours, as detailed in the quarterly report just released by the prominent player in Botswana\u2019s […]<\/p>\n","protected":false},"author":84,"featured_media":33118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-33119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nLucara Spent P300m on Karowe Mine\u2019s Underground Development in Q2 2023 - Botswana<\/title>\n<meta name=\"description\" content=\"Lucara Diamond Corporation has expended $22.5 million (equivalent to approximately P302 million) on advancing the und ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lucara Spent P300m on Karowe Mine\u2019s Underground Development in Q2 2023\" \/>\n<meta property=\"og:description\" content=\"Lucara Diamond Corporation has expended $22.5 million (equivalent to approximately P302 million) on advancing the und ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-24T16:02:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/08\/sm_1692873706.371196.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Lucara Spent P300m on Karowe Mine\u2019s Underground Development in Q2 2023\",\"datePublished\":\"2023-08-24T16:02:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023\"},\"wordCount\":342,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/08\/sm_1692873706.371196.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/lucara-spent-p300m-on-karowe-mines-underground-development-in-q2-2023\",\"name\":\"Lucara Spent P300m on Karowe Mine\u2019s Underground Development in Q2 2023 - 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