Lucara Financing for Karowe Underground Expansion On Track

Mining and Exploration
24/03/2021 07:40

Lucara Diamond Corp announces five leading international financial institutions, including ING Bank NV, Natixis, Société Générale London Branch, Africa Finance Corporation and Afreximbank, are mandating +US$200m senior debt facilities for the underground expansion of the company's 100% owned Karowe mine in Botswana, extending the mine's lifespan until at least 2040, expected to generate over US$4bn in revenues. Total capital cost for the expansion is estimated at US$514m over a period of five years.