Lucara expects revenues from the Karowe Mine to be between $195 million and $225 million in 2025, as stated in its operating guidance for the year 2025.
"For 2025, the Company’s revenue forecast assumes that 79% of the carats recovered will come from the higher value M/PK(S) and EM/PK(S) units within the South Lobe, the sale of its diamond inventory, and the remaining carats recovered come from the Centre Lobe in accordance with the mine plan, generating revenue between $195 and $225 million. South Lobe material, while lower grade than the Centre and North Lobes, has a higher weight percentage of stones greater than 10.8 carats in size (“Specials”)," Lucara said.
The company also expects between 400,000 and 420,000 carats sold and 360,000 to 400,000 carats recovered. Furthermore, Lucara projects to mine 1.6 million to 2.0 million tonnes of ore and process 2.6 million to 2.9 million at a cost of between $28.50 and $31 per tonne of ore.
Lucara also expects to spend $115 million on its underground project and expects the development to extend Karowe’s mine life beyond 2040. In 2024, significant progress was made in shaft sinking and lateral development connecting the production and ventilation shafts, with the critical path ventilation shaft being ahead of the July 2023 rebase schedule.
"In 2025, capital costs for the UGP are expected to be up to $115 million and will focus predominantly on shaft sinking activities to the final depth, equipping of the production shaft and station development. Surface works will focus on permanent winders being installed and cold commissioned. Tendering the underground lateral development contract along with underground equipment purchases will also be completed in 2025," the company said.
The company also projects sustaining capital to be in the region of $13 million with a focus on the replacement and refurbishment of key asset components, in addition to the expansion of the tailings storage facility and pit steepening activities, which will extend the mine’s ability to extract South lobe material from the pit in 2025.