{"id":49032,"date":"2024-05-24T07:31:26","date_gmt":"2024-05-24T07:31:26","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent"},"modified":"2024-05-24T08:05:42","modified_gmt":"2024-05-24T08:05:42","slug":"mr-consistent","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent","title":{"rendered":"Mr consistent"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Botswana. <\/strong><\/span><b>Lucara continues to deliver despite weak market<\/b><br \/>\n<b>Despite the diamond market\u2019s high-profile struggles, Lucara continues to deliver solid sales through its ever-reliable Karowe Mine.<\/b><\/p>\n<p>The Letlhakane-located mine once again delivered decent revenue for the Canadian enterprise, raking in $41.1 million (just shy of P559 million) for the first quarter of the year (January to March).<\/p>\n<p>It marks a slight drop from the $42.8 million recorded over the same three-month period in 2023.<\/p>\n<p>The money was made through Lucara\u2019s three sales channels, with the HB sales agreement \u2013 the sale of rough diamonds above 10.8 carats \u2013 responsible for $23.2 of the incoming millions.<\/p>\n<p>Tenders generated $13 million, while the company\u2019s digital sales platform, Clara Solutions, sold $4.9 million worth of goods, of which Karowe was responsible for two-thirds.<\/p>\n<p>Voicing his satisfaction at the Q1 returns, Lucara Diamond Corp Chief Executive Officer (CEO), William Lamb, said, \u201cOur Karowe diamond mine delivered another solid operational quarter, continuing its track record of sustainable diamond production from this world-class asset.<\/p>\n<p>\u201cThe company\u2019s high-value diamond production forecast remains robust, underpinned by our focus on operating practices aligned with leading environmental, social and governance standards. Lucara is well-positioned with our exceptional diamond production profile and our innovative process facilities and sales mechanisms to navigate this environment. We will continue executing our growth strategy while maintaining financial discipline to create sustained value for all our stakeholders,\u201d said Lamb, who assumed the CEO role in August last year.<\/p>\n<p>There was also plenty of Pula going out during the quarter, with the Karowe underground development gobbling up $17.9 million, money spent on surface infrastructure and shaft sinking.<\/p>\n<p>Expected to expand the mine\u2019s lifespan to 2040, the underground project is anticipated to start reaping rewards by 2028.<\/p>\n<p>With the total cost of the project at $683 million, the capital expenditure stood at $332.5 million as of 31st March.<\/p>\n<p>\u201cWork on the underground expansion project at Karowe also progressed well during the quarter. This key growth initiative remains on track with the rebase schedule and budget, positioning us to access the higher-value ore from the underground portion of the ore body, early in 2028,\u201d revealed Lamb, adding that this year alone, Lucara expect to splash $100 million on the project.<\/p>\n<p>Meanwhile, Lucara has made no changes to the production targets with $220 \u2013 250 million in revenue expected for 2024 from sales of 345 \u2013 375 000 carats.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/botswana\">Botswana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Botswana. Lucara continues to deliver despite weak market Despite the diamond market\u2019s high-profile struggles, Lucara continues to deliver solid sales through its ever-reliable Karowe Mine. The Letlhakane-located mine once again delivered decent revenue for the Canadian enterprise, raking in $41.1 million (just shy of P559 million) for the first quarter of the year [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":49031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-49032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mr consistent - Botswana<\/title>\n<meta name=\"description\" content=\"Lucara continues to deliver despite weak marketDespite the diamond market\u2019s high-profile struggles, Lucara co ...\" \/>\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\/mr-consistent\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mr consistent\" \/>\n<meta property=\"og:description\" content=\"Lucara continues to deliver despite weak marketDespite the diamond market\u2019s high-profile struggles, Lucara co ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent\" \/>\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=\"2024-05-24T07:31:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-24T08:05:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/05\/sm_1716525043.808373.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\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\/mr-consistent#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mr consistent\",\"datePublished\":\"2024-05-24T07:31:26+00:00\",\"dateModified\":\"2024-05-24T08:05:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent\"},\"wordCount\":392,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2024\/05\/sm_1716525043.808373.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/mr-consistent\",\"name\":\"Mr consistent - 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