The Karowe UGP is … Project Manager. The deposit mix shifted from overnight deposits to term deposits as clients sought higher yields. The recovery of demand in all parts of the pipeline enabled rough diamond producers to destock at the start of 2021. BTC Board Chair Lorato Ntakhwana said that in the future, the 51 percent government-owned telecom giant will bank on its new 3-year strategy for growth paths. The decline was driven by the drop in short term assets at the back of the decrease in demand deposits. Lucara Diamond Corp. is pleased to provide an update on the Karowe Underground Expansion project (the "UGP").The Karowe UGP is planned to extend the mine life to at least 2040 mining predominately from the highest value EM/PK(S) unit, and is forecasted to contribute approximately $4 billion in additional revenues, using conservative diamond prices, starting in 2026. Investment securities declined by 17% year-on-year following the normalisation of market liquidity to pre COVID-19 levels. Karowe Underground Project will add $4bn to Lucara Revenue. As construction and mining activities ramp up, focused attention will continue to be paid on the continuation of safe operations.Temporary Power GenerationTemporary power for shaft sinking is required until such time as the upgrade bulk power supply infrastructure is commissioned in Q4 2022. The Karowe UGP is planned to extend the mine life to at least 2040 mining predominately from the highest value EM/PK(S) unit, and is forecasted to contribute approximately $4 billion in additional revenues, using conservative diamond prices, starting in 2026. Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to announce that the Board of Directors has formally approved the Karowe underground expansion project (the "UGP"), following the Financial Close and satisfaction of all Conditions Precedent pursuant to the previously announced senior secured project . Camp construction has been separated into two 100-person phases, construction of Phase 1 is complete with commissioning and occupation in July 2021. To date, over 430 days have been worked LTI-free, on the project. The stage 1 and 2 impairment decline followed a reduction in the gross advances exposure and the normalisation of impairments in June 2021. Lucara has a 100%interest in the producing diamond… Lucara Diamond Corp. is pleased to announce that the Board of Directors has formally approved the Karowe underground expansion project, following the Found insideIn order to emphasize the general interest of the book, we finally retain the following title: Continental Evolution: The Geology of Morocco. Structure, Stratigraphy, and Tectonics of the Africa-Atlantic-Mediterranean Triple junction. Lucara Announces Final Board Project Sanction for the Karowe Underground Expansion Project and Financial Close of Project Finance Facilities. The Karowe UGP is planned to extend the mine life to at least 2040 mining predominately from the highest value EM/PK (S) unit, and is forecasted to contribute approximately $4 billion in additional revenues . FNBB indicated that it had demonstrated a resilient performance amid COVID-19 uncertainty shown by maintaining the profit before tax despite the significant reduction in the Bank Rate. We would like to thank our lenders and advisers for their efforts towards achieving financial close of the facilities.”. “However, we have since seen a decent recovery in our financial performance year-on-year,” said BTCL Managing Director Anthony Masunga. Lucara Announces Karowe Underground Expansion Project Update. Phase 2 of the camp will commence construction during Q3 2021, in line with the project schedule.ProcurementProcurement of long lead items required for shaft sinking and for the bulk power supply are advancing on schedule. All of the kimberlite material in the South Lobe is above the cut-off value. In the first six months of 2021, the cutting centres achieved strong sales of polished diamonds in response to the ongoing recovery of consumer demand. Found insideThis is the first book that gathers together leading experts from around the world to outline our current understanding of this complex ecosystem, the ways in which it can be enhanced and utilised and where the research challenges are for ... Meager Volcanic Ash Endurance Gold Corp. is a North American gold-focused... Rokmaster Resources Corp. is focused on developing the Revel Ridge project, one of the largest precious... Solaris Resources Inc. is a company that offers investors exposure to a series of world class... You have successfully subscribed to the newsletter. According to the bank’s financial statement, the decline was driven by competitive pressures, with the market extending loan tenures, resulting in increased market debt. A utilization notice from the US$170-million project loan facility has been accepted and first financing for the Karowe underground expansion is expected to be received in mid-September. However, the severe Covid-19 wave in India during April and May reduced capacity to cut and polish operations within the critical Indian midstream sector, further exacerbated by polished diamond grading backlogs in critical markets. We see technology and digitisation as a vehicle to the provision of solutions to the nation’s challenges,” she said. The budgeted spend on underground expansion activities in 2021 is up to $120 million.Please refer to the aerial images of the UG expansion project area (image attached) for an overview of the site general arrangement and construction activity to early June 2021.Mining MethodThe Karowe Mine is an existing conventional drill and blast open pit operation, with diesel excavators and trucks providing an average annual 2.6 million tonnes of kimberlite feed to the mill. Additionally, Lucara has completed the Church of England Pension Fund Tailings Safety Disclosure Response which has been posted to the Lucara website (see link).Environment, Social, Governance In addition to meeting applicable Botswana laws, regulations and requirements, Lucara has adopted the IFC Performance Standards and the World Bank Group’s Environmental, Health and Safety Guidelines for Mining (2007). Ventilation shaft pre-sinking has commenced, with the completion of the first set of cover holes and a total of four blasts occurring to date, with continued drilling, mucking and installation of ground support on a 24-hour basis. The 2019 update also included geological information and production data derived from open pit mining to the end of June 2019. This excise has seen some financial years registering a decline in both revenue and profits. Commenting on the sales results Bruce Cleaver, Chief Executive Officer of De Beers Group, said sentiment in the diamond industry’s midstream continues to be positive, as reflected in the company’s sales for Sight 7. Your email address will not be published. De Beers Group on Wednesday announced the value of rough diamond sales (Global Sightholder Sales and Auctions) for the seventh sales cycle of 2021. The start of the financial year coincided with the implementation of the national measures to contain the COVID-19 virus, leading to national lockdowns, which placed pressure on the BTCL performance for the first half of the year. Lucara board formally approves the P5.8 billion Karowe underground project. A utilization notice from the US$170 million project loan facility has been accepted, and first funding for the Karowe underground expansion is expected to be received in mid-September. While actively looking for the opportunities arising out of the anticipated recovery pattern, the bank said it would continue to be cautious in maintaining the quality of its credit book. Construction of substations is scheduled to commence in Q3 2021 and power line construction in Q1 2022.Camp ConstructionA 200-person camp is required to support shaft sinking and underground mine development. Rather, during this period in 2020 and 2021, all critical path items were addressed and a concerted effort was placed on detailed design, engineering and procurement which have helped to significantly de-risk the project. A utilization notice from the US$170 million project loan facility has been accepted and first funding for the Karowe underground expansion is expected to be received in mid-September. The company, listed on the local bourse in a historic IPO in 2016, has been grappling with the uphill task of transforming from a wholly state-owned organisation to a fully commercial publicly listed entity. The camp is contiguous with and within the Karowe Mine lease. This work examines the valley of the Urubamba River in terms of vertical zonation, Incan impact on the environment, plant use, the history of exploration and the notion of discovery, the idea of land reform, and cultural contact with the ... The feasibility study looks to double the mine life from the original mine design of 2010 and add net cash flow of US$1.22 billion and gross revenue of $5.25 billion. Found insideVery Good,No Highlights or Markup,all pages are intact. In the June 2021 results, deposits declined from P23.2bn to P21.4bn (8% decline), driven by an increase in activity following the lifting of COVID-19 restrictions and the normalisation of the market liquidity. The 2021 cycle seven rough sales clocked a provisional figure of $514 million, a slight increase from $513 million recorded in the previous cycle. Investegate 5d. Gold Mining Sector, Gold One Cooke Operations Backfill Project, Project Manager: This green and brown fields project (total project value ≈ ZAR 120 million), located in Gauteng, South Africa, involved the EPCM contract for the design, engineering, procurement, manufacturing . The bottom-up approach of the LHS mining method takes advantage of the higher value EM/PK(S) kimberlite unit at depth in the South Lobe at Karowe, and balances high initial capital costs with low operating costs while de-risking the project with respect to the geotechnical and hydrogeological aspects of the host rocks. Sustainable Landscaping: Principles and Practices examines landscape practices that adversely affect the environment, which occur in the process of constructing, impleme Lucara announces Karowe Underground Expansion project update; Into the deep: Aggreko launches new mine cooling solution; KAMOA COPPER ET LA SOCIETE NATIONALE D'ÉLECTRICITÉ DE LA RDC ÉTENDENT LEUR ACCORD DE FINANCEMENT POUR FACILITER LA RÉHABILITATION DE LA TURBINE 5 DU COMPLEXE HYDROÉLECTRIQUE D'INGA II VANCOUVER, BC, Aug. 11, 2021 /PRNewswire/ -- (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC) Lucara … The ventilation shaft depth below the shaft collar is currently at approximately 17 metres. De Beers impressive rough sales run is against the backdrop of performance come back in the first half of the year. A utilization notice from the US$170 million project loan facility has been accepted and first funding for the Karowe underground expansion is expected to be received in mid-September. Found insideThe book contains NOAA maps that show the underwater features of the lakes, and pages of facts about each one. Commissioning of Phase 1 is scheduled during Q3 2021 to support the start of pre-sink activities.Bulk Power SupplyDuring 2020, Lucara negotiated and signed a self-build agreement with the Botswana Power Corporation (“BPC”) for the construction of two substations and a 29km long 132kv Transmission line from BPC’s newly established Letlhakane substation to the Karowe mine. Lucara Diamond Corp. ("Lucara" or the "Company") is pleased to provide an update on … The first ore from the Karowe expansion project is targeted to be drawn in 2026. Lucara has a 100%interest in the producing diamond mine located in north-central Botswana, Africa that is noted for producing large exceptional-quality Type IIa diamonds. The Karowe diamond mine, which was fully commissioned in 2012, will continue to see open pit operations until 2026. Generally, any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance and often (but not always) using forward-looking terminology such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “budgets”, “scheduled”, “forecasts”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential”, “possible” or variations thereof or stating that certain actions, events, conditions or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.In particular, forward-looking information and forward-looking statements include, but are not limited to, information or statements with respect to the length by which the UGP will extend the life of mine, forecasted revenues, diamond prices, the UGP being fully financed from a combination of debt, equity and projected cash flows from open pit operations, that expected cash flow from operations, combined with external financing will be sufficient to complete construction of the UGP, the anticipated total capital expenditures and schedule to develop and complete the UGP, the timing of key construction milestones including shaft sinking activities,  the timing of achieving production targets, the Company’s adoption of and compliance with internationally recognized standards including IFC Performance Standards and the Equator Principles, the timing for the UGP to pay back capital, that the timing of the end of the open pit mine life will limit the risk of a production shortfall during the UGP ramp-up, statements on how COVID-19 or variants thereof have or may impact the schedule for the UGP or the Company’s ability to continue to mine the open pit during the construction period, that the decisions taken to de-risk the UGP will be successful, that the people, equipment and materials required to build the UGP will be available when required to maintain the proposed UGP schedule, that the use of LHS to mine the underground will provide additional mine life from the Karowe ore body and that the use of this mining method will allow access to the EM/PK(S) ore as planned, that minimal dilution will result from the use of LHS and that the underground development can occur simultaneously with open pit operations.Forward-looking information and forward-looking statements may also include, but are not limited to: the economic potential of a mineralized area, the size and tonnage of a mineralized area, anticipated sample grades or bulk sample diamond content, future production activity, the future price and demand for diamonds, future forecasts of revenue, estimation of mineral resources, development plans, cost and timing of the development of deposits and estimated future production, permitting time lines, or that all required permits have been obtained which are required to develop the UGP in accordance with the current plan, currency exchange rates, success of exploration, requirements for and availability of additional capital, capital expenditures, operating costs, timing of completion of technical reports and studies, tax rates, timing of drill programs, government regulation of operations, environmental risks and ability to comply with all environmental regulations, reclamation expenses, title matters including disputes or claims, limitations on insurance coverage, negotiations and agreements among the Company and the Botswana Mine Workers Union, the completion of transactions and timing and possible outcome of pending litigation.There can be no assurance that such forward looking statements will prove to be accurate, as the Company’s results and future events could differ materially from those anticipated in this forward-looking information as a result of those factors discussed in or referred to under the heading “Risks and Uncertainties” in the Company’s most recent Annual Information Form available at http://www.sedar.com, as well as impacts from COVID-19 or variants thereof on the Company’s ability to continue to operate as planned, including the availability of people, equipment and materials required to maintain the proposed UGP schedule, the Company’s ability to access the markets and generate revenues at anticipated diamond prices, the Company’s ability to continue to comply with the terms of its debt financing, changes in general business and economic conditions, changes in interest and foreign currency rates, the supply and demand for, deliveries of and the level and volatility of prices of rough diamonds, costs of power and diesel, acts of foreign governments and the outcome of legal proceedings, inaccurate geological and recoverability assumptions (including with respect to the size, grade and recoverability of mineral reserves and resources), and unanticipated operational difficulties (including failure of plant, equipment or processes to operate in accordance with specifications or expectations, cost escalations, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job actions, adverse weather conditions, and unanticipated events relating to health safety and environmental matters).Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date the statements were made, and the Company does not assume any obligations to update or revise them to reflect new events or circumstances, except as required by law.SOURCE Lucara Diamond Corp.Investor Relations & Communications, | +1 604 674 0272| info@lucaradiamond.com; Sweden: Robert Eriksson, Investor Relations & Public Relations, +46 701 112615 | reriksson@rive6.ch; UK Public Relations: Charles Vivian / Jos Simson, Tavistock, | +44 778 855 4035 | lucara@tavistock.co.uk Base of Probable Reserve is 310 masl.4.Mineral Reserves are quoted above a +1.25 mm bottom cut-off and have been factored to account for diamond losses within the smaller sieve classes expected within the current configuration of the Karowe Mine process plant.5.Diamond valuation was derived from historical sales adjusted for current and estimated future values.6.Tonnages are rounded to the nearest 100,000 tonnes; diamond grades are rounded to one decimal place. United Mining Services (UMS) is gearing up for the pre-sinking of two shafts for the Karowe Underground Mine Expansion Project (UGP) in Botswana. Eira Thomas, President and CEO commented: "Lucara is excited to be moving forward with a fully financed underground expansion project, extending Karowe's mine life to at least 2040 and projected to deliver at least US$4 billion in additional revenues using conservative diamond price assumptions.

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