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Lucara reaches $1bn mark

Four-and-a-half years since starting production, Lucara Diamond Corp (CN:LUC)’s Karowe mine in Botswana has surpassed the US$1 billion sales mark.

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Cash cow: Karowe, in Botswana, has been a highly-profitable operation for Lucara

The mine, which is set to produce more than 350,000 carats this year, hit the milestone after completing its fourth regular tender of 2016. To date, the operation has yielded 1.