PROJECT FINANCE

Lucara addresses liquidity issue

Lucara Diamond has announced a short-term extension of the maturity of its US$50 million senior secured working capital facility (WCF) and a deferral to November 1 of the requirement to place $52.9 million in a cost overrun reserve account (CORA) by September. The CORA balance is currently $18.3 million.

Lucara Diamond's Karowe mine in Botswana

Lucara Diamond's Karowe mine in Botswana

The company said its debt package consists of a $170 million project finance facility to fund the development of an underground expansion at the Karowe mine in Botswana, and the WCF to support ongoing...

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