Does gov't regret not buying into Karowe?

World famous: Karowe has uncovered some of the worldu00e2u20acu2122s biggest diamonds of late PIC: MINING.COM
World famous: Karowe has uncovered some of the worldu00e2u20acu2122s biggest diamonds of late PIC: MINING.COM

The Minerals Development Company Botswana, government’s mining investment agency, is investigating whether talks should be started with Lucara into acquiring a stake. Lucara’s Karowe keeps discovering headline-grabbing diamonds, but the decision is anything but clear-cut. Staff Writer MBONGENI MGUNI writes

Since its commissioning in 2012, Lucara’s Karowe Diamond Mine has fast built a reputation for finding some of the world’s most remarkable diamonds. From 2015’s 1,109-carat Lesedi la Rona and 813-carat Constellation, to last year’s 1,758-carat Sewelo and the 549-carat gem announced last week, Karowe has regularly been in the global headlines.

From the beginning of the year-to-date in 2020, Karowe has produced six diamonds greater than 100 carats and appears well on the way to a revenue target of between $180 million and $210 million (between P1.97 billion to P2.3 billion).

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