KEY POINTS
- Lucara forecasts $195 Million-$225 Million in 2025 revenue from Karowe Mine’s high-value diamonds.
- Karowe Mine unearthed record-breaking diamonds in 2024, including a 2,488-carat gem.
- Underground expansion aims to extend Karowe’s operations beyond 2024, sustaining Botswana’s economic growth.
Lucara Diamond Corp. has announced a revenue projection for 2025, projecting diamond revenue of up to $225 million.
This was followed by the output of Karowe Mine in Botswana exceeding production goals and unearthing two exceptional diamonds weighing over 1,000 carats each in 2024.
Karowe achieves milestones in diamond mining
The 2025 outlook includes significant advancements in the mine’s underground expansion project and a firm commitment to sustainable and cost-efficient operations, according to the Vancouver-based company.
“This year marked extraordinary progress at Karowe Mine,” said William Lamb, Lucara’s president and CEO.
“We achieved record depths in underground mining and recovered two exceptional diamonds—a 2,488-carat gem and a 1,094-carat stone—highlighting the quality of our resource.”
Goals set high
The company expects 79% of next year’s recovered carats to come from the South Lobe, supplemented by inventory sales and material from the Centre Lobe.
Projected revenues are between $195 million and $225 million, with diamond sales estimated at 400,000 to 420,000 carats.
Key performance indicators for 2025 include processing 2.6 to 2.9 million tonnes of ore and investing up to $155 million in the ongoing underground project.
Stockpiled material will sustain mill feed until 2027 when high-grade ore from the underground expansion becomes available.
The South Lobe, while lower in grade, contains a higher percentage of diamonds weighing over 10.8 carats, enhancing its commercial value.
Sustainability and long-term vision
Lucara reiterated its sustainability commitment through production efficiency and improving environmentally friendly mining practices.
Strategically, it aims to extend the life of Karowe mine beyond 2024, creating long-term value for stakeholders and supporting Botswana’s economic growth.
“This forward-looking strategy not only ensures operational excellence, but also reinforces our role as stewards of responsible mining,” Lamb said.
Lucara’s guidance signals continued investment in innovation and resilience in the diamond industry, a vital sector for Botswana’s economy.
