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Botswana has renewed Lucara Diamond Corp’s licence to mine the Karowe resource for 25 more years, allowing the diamond miner to further expand its operations through an underground project.
The licence renewal secures Lucara’s mining rights until 2046.
Eira Thomas, president and CEO of Lucara, called it “an important milestone” for the Karowe underground expansion project. “This paves the way for the completion of a supplemental debt financing and full project sanction later this year,” he continued.
The Karowe underground expansion project runs under a revised US$22 million budget in response to Covid-19.
“The company continues to explore debt financing options for those amounts...
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