Sandvik to Supply 15-Unit Underground Mining Fleet for Lucara’s $779 Million Karowe Project in Botswana
Sandvik has secured an order from Lucara Botswana to supply a 15-unit underground mining fleet for the Karowe diamond mine in Botswana, supporting the operation’s transition from open-pit to underground mining.
The equipment package includes development drills, loaders, a cable bolter and a longhole drill, along with spare parts, rock tools and aftermarket services.
Deliveries are already under way and are expected to continue through the fourth quarter of 2026.
The fleet comprises five Sandvik DD321 development drills, four Toro LH517i loaders, two Toro LH621i loaders, two Sandvik DD422i development drills, one Sandvik DS422i cable bolter and one Sandvik DU311 longhole drill.
Sandvik will also provide digital monitoring and maintenance solutions designed to improve equipment availability, monitor machine health and support more proactive maintenance throughout the fleet’s operating life.
Importantly, the equipment purchase is being supported by a financing solution from Sandvik Financial Services, backed by an export credit guarantee from the Swedish Export Credit Agency.
This arrangement is intended to help Lucara manage the capital requirements associated with the major underground development.
The investment forms part of Lucara’s Karowe Underground Project (UGP), which is designed to access the high-value portions of the diamond orebody located beneath the existing open pit.
The underground project is expected to extend Karowe’s mine life to 2038, with underground production targeted to begin in the first half of 2028.
The project has an estimated pre-production capital cost of about $779 million.
For Lucara, securing the mining fleet and associated financing represents an important step in preparing Karowe for its next phase of production.
The company has long relied on the mine’s ability to recover large, high-value diamonds, making the transition underground central to its long-term growth strategy.
For Sandvik, the contract strengthens its presence in Botswana and demonstrates the growing demand for integrated equipment, financing, aftermarket support and digital solutions as mining companies undertake major underground expansions.
