Canadian miner Lucara Diamond, operating the Karowe mine in Botswana, Africa's top diamond producer, recovered 335,769 carats of rough diamonds in 2022.
Lucara Diamond's Karowe mine in Botswana, the world's leading diamond producer, produced 395,134 carats in 2023, an 18% year-on-year increase, the company said on February 20. This meets the lower end of its forecast range of 395,000 to 405,000 carats.
However, revenue generated from the mine fell 16.6% to $177.4 million compared to 2022. Lucara attributed this decline to a combination of factors, including lower global diamond prices and a shift in mined material compared to the prior year. In 2022, the company primarily extracted diamonds from a single zone, while 2023 saw a mix from three different zones.
For 2024, Lucara expects production and sales of 345,000 to 375,000 carats, with projected revenue of $220 million to $250 million. On February 18, the Canadian miner announced a new agreement to sell diamonds above 10.8 carats from Karowe through Belgian trader HB Company.
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
Jetour to produce T1, T2 SUVs in South Africa from 2027 Chery to acquire Rosslyn plant, cre...
Ecobank named alongside AfDB, ECOWAS, EBID and BOAD in the April 27, 2026 corridor financing mis...
Matthew Sharples, who has served as Asara Resources’ managing director for over a year, had not until now been directly involved in board deliberations....
South Sudan declines to renew Oranto’s oil block B3 contract Audit cites failure on seismic surveys and drilling commitments Block reopened to...
Tungsten prices surpass $3,000/tonne amid supply disruptions, China curbs Rwanda, DRC gain opportunities; Rwanda leads with higher output US...
Program targets 15,000 km roads, improving access to services Aims to boost connectivity, cut travel times, support rural economy The technical...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....