Operations

Overview

  • Karowe Mine

    • 100% interest in the 15.3 km2 Mining license- Botswana
    • Granted: October, 2008
    • Renewal October, 2023

    Mothae Project

    • 75% interest in the 20.0 km2 Mining license- Lesotho
    • Granted: September, 2009
    • Renewal September, 2019
  • Karowe Mine

    • 100% interest in the 15.3 km2 Mining license- Botswana
    • Granted: October, 2008
    • Renewal October, 2023
  • Mothae Project

    • 75% interest in the 20.0 km2 Mining license- Lesotho
    • Granted: September, 2009
    • Renewal September, 2019

Overview

Lucara Diamond Corp. is a new diamond producer. It's two key assets are the Karowe mine in Botswana and the Mothae project in Lesotho. The 100% owned Karowe Mine is a newly constructed state-of-the-art mine which was fully commissioned in Q2 2012 . At the 75% owned Mothae project the company has completed the trial mining stage. The Mothae plant was put on care and maintenance while the Company investigates further development options. Both Mothae and Karowe are large scale assets with tonnage and throughput upside and production has consistently included large, Type IIA stones. Lucara is a member of the Lundin Group of Companies and is listed on the TSX Exchange, NASDAQ OMX Stockholm and the Botswana Stock Exchange under the symbol "LUC".
Karowe Mine Karowe Mine

Karowe Mine,
Botswana

The Karowe Mine is the mine developed from the Company's AK6 Project. The Karowe Mine is owned 100% by Boteti. The Company has a 100% indirect interest in Boteti.

The Karowe Mine is located in north-central Botswana and is part of the Orapa/Letlhakane Kimberlite district, one of the world's most prolific diamond producing areas. The Kimberlite at the Karowe Mine (the "AK6 Kimberlite") comprises a single, tri-lobate Kimberlite pipe, which is "pinched" at surface, and its sub-outcrop consists of a core of Kimberlite, covering an area of 4.2 ha, surrounded by an area where the Kimberlite is capped by basalt or basalt breccia. Drilling has shown that the Kimberlite bulges to a maximum area of 7 ha at a depth of 120 m.

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Mothae Project Mothae Project

Mothae Project,
Lesotho

The Mothae Diamond Project is located in the Maluti Mountains of Lesotho, approximately 150km northeast of Maseru the capital of Lesotho. The Mothae mining lease covers an area of 20.0 km2. The project hosts a large diamondiferous kimberlite pipe with an estimated surface extent of 8.8 hectares and is located adjacent to and directly on trend with the world-famous Letseng diamond mine.

Mothae Diamonds, which is owned 75% indirectly by Lucara through Mothae Diamonds Holdings Inc. and 25% by the Lesotho Government, holds a 100% interest in the Mothae Project. Mothae Diamonds Holdings Inc. is operator of the Mothae Project and is currently funding 100% of project costs. 12.5% of such costs (or 50% of the Lesotho Government's interest in the Mothae Project) will be reimbursed by the Lesotho Government only from its share of dividends declared and paid by Mothae Diamonds and the remaining 12.5% interest is a free carried interest. During an initial pre-production test mining stage a royalty of 4% of the sales value of diamonds produced from the Mothae Project will be payable to the Lesotho Government. At full production, the royalty will increase to 8% of diamond sales value. The Mothae Project is comprised of a mining lease that is valid until September 2019 and renewable for a further period of ten years. The Mothae Project is subject to the Lesotho mining code as promulgated in the Mines and Minerals Act (Act No 4 of 2005).

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