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Karowe Receives Mining Licence Renewal and Extension to 2046
Karowe Receives Mining Licence Renewal and Extension to 2046 Canada NewsWire ...
About this update from Lucara Diamond Corp.
[{"type":"text","content":"\n \n \n \n Karowe Receives Mining Licence Renewal and Extension to 2046\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 4, 2021\n \n /CNW/ - (TSX: LUC) (BSE: LUC) (Nasdaq Stockholm: LUC)\n \n \n Lucara Diamond Corp and Lucara Botswana (Proprietary) Limited (both \"Lucara\" respectively) are pleased to announce that the application for the renewal of Mining Licence No 2008/6L in respect of its AK06 (Karowe) Mine has been approved by\n \n Botswana's\n \n Minister of Mineral Resources, Green Technology and Energy Security. The renewal is effective\n \n January 4, 2021\n \n for a period of 25 years, securing Lucara's mining rights to 2046 and marks a critical step in the formal sanction of the Karowe underground expansion project.\n \n View PDF version\n \n .\n \n \n Eira Thomas, President and CEO commented: \"The receipt of our mining licence renewal and extension to 2046 is an important milestone for the Karowe underground expansion project, paving the way for the completion of a supplemental debt financing and full project sanction later this year. Lucara is grateful for the confidence and support demonstrated by the Government of\n \n Botswana\n \n as we work to expand our operations at Karowe underground, for the benefit of the Government and the people of\n \n Botswana\n \n together with Lucara's shareholders. We look forward to continued cooperation and a mutually rewarding partnership with the Government of\n \n Botswana\n \n .\"\n \n \n The Karowe underground expansion project, which continued to advance in 2020 under a revised US\n \n $22 million\n \n budget in response to Covid, focused on time critical-path items, detailed engineering and design, and limited earth works and geotechnical studies. The Company continues to explore debt financing options for the underground expansion for those amounts which are expected to exceed the Company's cash flow from operations during the construction period. The Company anticipates financing to be in place by the second half of this year. The underg...