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Karowe mine unearths 342 carat gem


The Canadian based Lucara Diamond Corp recovered a 342 carat gem-quality diamond from its Karowe mine.


The “exceptional colour and clarity” stone, said the Vancouver-based firm, was recovered while processing fragmental kimberlite from the central and south lobe interface of the mine, located in the central district of the southern African country.


According to Lucara this exceptional stone will be sold along with two other stones that are larger than 100 carats.


“The recovery of this magnificent stone once again confirms the quality of diamonds contained within the Karowe resource. Timing of the sale of these exceptional stones is still to be decided,” William Lamb, the CEO of Lucara, said,
Lamb added that the surprise recovery of the 7.80-carat diamond from the very small quantity of material processed during commissioning of the XRT machines demonstrates the excellent recovery capability of this exciting technology.

The final integration of the last sections into the process plant will provide improved mine planning flexibility and allow us to once again access material from all three lobes and more importantly provide the ability to mine sustainably from the high-value south lobe in the future.


The mining company also told investors that it is making progress on the plant optimization project at Karowe and that construction activities are essentially completed.  Tracer testing of the new XRT diamond recovery machines has been completed and already a small volume of material was processed to check how it handles material, resulting in the recovery of a 7.80-carat diamond. Lucara anticipates that the new recovery and XRT sections will be integrated into the main treatment plant before the end of April.


The Karowe mine which continues to be celebrated because of its outstanding performance performed well during the third quarter with tons of ore mined exceeding the mine plant during the period. Waste mined for the push back to open up access to the south lobe continues as planned. Ore mined for the period was ahead of forecast with higher than expected grades processed compared to the previous quarter.

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China’s GDP expands 3% in 2022 despite various pressures

2nd February 2023
China’s Gross Domestic Product (GDP) expanded by 3% year-on-year to 121.02 trillion yuan ($17.93 trillion) in 2022 despite being mired in various growth pressures, according to data from the National Bureau Statistics.

The annual growth rate beat a median economist forecast of 2.8% as polled by Reuters. The country’s fourth-quarter GDP growth of 2.9% also surpassed expectations for a 1.8% increase.

In 2022, the Chinese economy encountered more difficulties and challenges than was expected amid a complex domestic and international situation. However, NBS said economic growth stabilized after various measures were taken to shore up growth.

Industrial output rose 3.6% in 2022 over the previous year, while retail sales slightly shrank by 0.2% data show that fixed-asset investment increased 5.1% over 2021, with a 9.1% hike in manufacturing investment but a 10% fall in property investment.

China created 12.06 million new jobs in urban regions throughout the year, surpassing its annual target of 11 million, and officials have stressed the importance of continuing an employment-first policy in 2023.

Meanwhile, China tourism market is a step closer to robust recovery. Tourism operators are in high spirits because the market saw a good chance of a robust recovery during the Spring Festival holiday amid relaxed COVID-19 travel policies.

On January 27, the last day of the seven-day break, the Ministry of Culture and Tourism published an encouraging performance report of the tourism market. It said that domestic destinations and attractions received 308 million visits, up 23.1% year-on-year. The number is roughly 88.6% of that in 2019, they year before the pandemic hit.

According to the report, tourism-related revenue generated during the seven-day period was about 375.8 billion yuan ($55.41 billion), a year-on-year rise of 30%. The revenue was about 73% of that in 2019, the Ministry said.

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Jewellery manufacturing plant to create over 100 jobs

30th January 2023

The state of the art jewellery manufacturing plant that has been set up by international diamond and cutting company, KGK Diamonds Botswana will create over 100 jobs, of which 89 percent will be localized.

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Investors inject capital into Tsodilo Resources Company

25th January 2023

Local diamond and metal exploration company Tsodilo Resources Limited has negotiated a non-brokered private placement of 2,200, 914 units of the company at a price per unit of 0.20 US Dollars, which will provide gross proceeds to the company in the amount of C$440, 188. 20.

According to a statement from the group, proceeds from the private placement will be used for the betterment of the Xaudum iron formation project in Botswana and general corporate purposes.

The statement says every unit of the company will consist of a common share in the capital of the company and one Common Share purchase warrant of the company.

Each warrant will enable a holder to make a single purchase for the period of 24 months at an amount of $0.20. As per regularity requirements, the group indicates that the common shares and warrants will be subject to a four month plus a day hold period from date of closure.

Tsodilo is exempt from the formal valuation and minority shareholder approval requirements. This is for the reason that the fair market value of the private placement, insofar as it involves the director, is not more than 25% of the company’s market capitalization.

Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond and metal deposits at its Bosoto Limited and Gcwihaba Resources projects in Botswana.  The company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana.

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