Botswana: Lucara aims to produce up to 340,000 carats at the Karowe diamond mine in 2022
(Ecofin Agency) - For the first nine months of 2021, Lucara produced nearly 279,000 carats, which puts it on track to produce 370,000 carats over the year as announced in February. Although the company has reduced its forecast for 2022, it is still targeting the same turnover: more than $200 million.
In a press release published on November 24, the mining company Lucara Diamond announced its objectives for the year 2022, at its Botswanan Karowe diamond mine. While it is on track to reach the target of 370,000 carats recovered this year, the Canadian company has revised its forecast for 2022 downwards and wants to produce 300,000 to 340,000 carats.
With the almost constant improvement in prices on the diamond market for more than a year, Lucara, on the other hand, is renewing the same forecasts with regard to turnover. It is thus targeting revenues of $185 million to $215 million, compared to $195 to $210 million for the revised objectives for 2021.
“The trading environment for diamonds and diamond jewelery is the healthiest we have seen in several years, driven by improving global supply and demand fundamentals, a trend that is expected to continue,” said commented Eira Thomas, CEO of the company.
It should be noted that despite production now following a downward trend (more than 400,000 carats in 2019 compared to 381,000 carats in 2020), the Karowe mine remains a leading asset for Lucara. It notably delivered this year the third largest diamond in its history, a stone of 1,174 carats, as well as the largest pink diamond in the history of Botswana.
Additionally, Lucara Diamond this year secured the necessary funding to expand the mine to keep it operational until at least 2040.
Emiliano Tossou
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23/02/2021 - Botswana: Lucara Diamond records lower production and revenue in 2020
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