Lucara Diamond Corp. has issued a positive full-year revenue and production forecast as it plans to focus on mining the higher-value portions of the Karowe deposit in Botswana.
The company projects revenue for 2025 to range between $195 million and $225 million, a significant increase compared to its revised guidance of $160 million to $180 million for 2024.
The expected production for next year is between 360,000 and 400,000 carats, with sales volume estimated at 400,000 to 420,000 carats.
The improved revenue outlook is partly driven by the company’s enhanced recovery of larger diamonds, which tend to command higher prices.
Lucara also outlined an increased investment in its underground project, with an outlay of up to $115 million in 2025, up from $80 million in 2024. The higher expenditure is partly due to the deferral of some costs from the current year to next year.
“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, along with the sale of its diamond inventory.
The remaining carats are expected to come from the center lobe,” the company explained. “While the south lobe is lower grade than the center and north lobes, it has a higher percentage of stones larger than 10.8 carats.”
