Botswana Approves Lucara’s AK6 Purchase

A day after its C$100 million private placement closed, Lucara announced that Botswana’s government has approved the company’s acquisition of a 70.3 percent interest in the AK6 diamond project.

“All conditions requisite to completing the transaction have been satisfied and the acquisition has now closed,” President and Chief Operating Officer William Lamb stated Thursday in a company release.

Lucara has purchased its share of the diamond mine from De Beers. The proceeds from the private placement will be used for ongoing exploration, development activity and for general corporate purposes, the company has previously stated.

Lucara is an African focused diamond exploration and development company seeking to become a mid-tier diamond producer. It has operations in the Democratic Republic of Congo, Namibia and Lesotho.