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Capital costs for Lucara Diamond's underground expansion estimated at $105 million

Kitco Media
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Next year's capital costs for Lucara Diamond's underground expansion are expected to be up to $105 million.

The company (TSX: LUC) released its operating guidance today. Lucara operates the Karowe Diamond Mine in Botswana.

Expansion work will focus predominantly on shaft sinking activities, along with construction of the bulk air cooler, tendering the underground development contract and underground equipment purchases.

Lucara estimated diamond revenue in 2023 at $200 million to $230 million. Diamond sales will be 385,000 carats to 415,000 carats.

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