Canadian diamond exploration and mining company Lucara Diamond plans to finalize feasibility study of its Karowe project expansion in Botswana.
Lucara, which improved mining operations at Karowe in 2018, will optimize the base business and pursue a suite of high potential, organic growth opportunities.
The company will spend $14.8 million to close the geotechnical and hydrogeological drilling programs, as well as economic and studies that started in 2018.
Lucara will complete a feasibility study into potential underground production and life-of-mine expansion of Karowe in 2019, with expected revenue of between $170 million and $200 million.