Mining News

Lucara’s Botswana expansion formally approved

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The board of Lucara Diamond Corp has formally approved the $534-million expansion of its Karowe mine, in Botswana, the Canadian miner announced on Wednesday.

The underground mine construction approval follows the financial closure and satisfaction all conditions precedent to a $220-million debt package, announced in July.

The first $170-million in funding would be available in mid-September, the company stated.

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