High Dividend Payments From Lucara Diamond
Since implementing a progressive dividend policy only four years ago, Lucara has paid shareholders more than two hundred million dollars in dividend payments – an amount exceeding all capital raised by Lucara since the Company was founded.
Lucara Diamond Corp. is a diamond producer. It’s key asset is the Karowe Mine in Botswana. The 100% owned Karowe Mine is a newly constructed state-of-the-art mine which was fully commissioned in Q2 2012 . The Karowe Mine is a large scale asset with tonnage and throughput upside and production has consistently included large, Type IIA stones. Lucara is a member of the Lundin Group of Companies and is listed on the TSX Exchange, Nasdaq Stockholm and the Botswana Stock Exchange under the symbol “LUC”.
Karowe Mine was completed in 2012 on time and within a budget of US$120 million. It is a state-of-the-art operation comprising an open pit mine, crushers, AG mill and a XRT, DMS and XRF recovery plant. The mine has an annual production of approximately 380,000 carats of gem quality (including Type IIa) diamonds which are sold through regularly scheduled tenders throughout the year. Of importance, in addition to its regular diamond production, the Karowe mine has been producing some very large, exceptionally high quality diamonds (including some coloured stones). These exceptional stones are sold by special tender as recovery dictates.
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