"Healthy Industry": Lucara Forecasts 2022 Revenue of up to $215m
November 24, 21
(IDEX Online) - The diamond industry is healthier than it has been for several years, said Canadian miner Lucara today, as it forecast revenue of $185m to $215m next year.
It expects to recover and sell 300,000 to 340,000 carats from its Karowe mine, in Botswana during 2022.
Eira Thomas, president and CEO said: "The business environment for diamonds and diamond jewellery is the healthiest we've seen in several years, spurred on by an improvement in global supply and demand fundamentals, a trend which is expected to continue."
Open pit operations are to cease in 2026 as a $534m underground expansion secures its future until at least 2040.
The mine, which opened 2012, has yielded two 1,000+ carat stones — the 1,758 carat Sewelô in 2019 and the 1,109 carat Lesedi La Rona in 2015, which sold for $53m.
Pic of Karowe courtesy Lucara