Karowe to yield high value stones for remainder of open pit life

LUCARA Diamond, the Toronto-listed mining firm, said a study to update the indicated mineral resource of its Karowe mine in Botswana had found that the operation would continue to yield high quality diamonds for the remainder of its open pit life, and that underground mining was likely to continue until 2036

The remaining indicated mineral resource for Karowe’s AK06 kimberlite includes 7.9 million carats hosted in 57.85 million tonnes – in situ and stockpile – at an average grade of 13.7 carats per hundred tonne with an average modelled diamond value of $673 per carat, the company said in an announcement today.

“This resource update supports the continued recovery of large high value diamonds from the South Lobe,” said Lucara CEO, Eira Thomas. “Feasibility work assessing the potential for underground mining, including hydrogeological and geotechnical drilling together with several mining trade off studies is ongoing,” she added.

The Karowe Mine has been in commercial production since July 2012. The mine has produced and sold over two million carats from 13.9 million tonnes of processed kimberlite at an average sales price of $606/carat.