Company shifts to owner-managed operations
GAZETTE REPORTER
In a major management restructuring of its Karowe underground project (UGP), Lucara Diamond Corp. has terminated its Engineering, Procurement and Construction Management (EPCM) contract with JDS Energy & Mining Inc. effective 31 March 2025.
Announcing this in a statement released recently, Lucara said it has instead entered into a Master Service Agreement (MSA) with JDS to complete specific engineering components.
All site-based contracts and operations will now transition to owner-managed activities.
Operational control gains
Lucara believes the move will enhance project execution and increase shareholder value.
Among the expected benefits are improved cost control, greater flexibility in decision-making, direct oversight of critical milestones, and better use of Lucara’s in-house expertise.
Said William Lamb, President and CEO, in the statement: “We are confident that this strategic shift in project management will allow us to better leverage our team’s deep understanding of the Karowe Mine and its unique characteristics.”
The UGP continues to show substantial development. The production shaft now extends over 720 metres below surface while the ventilation shaft reaches beyond 680 metres.
Strong project progress
The production man and materials winder building has seen major advancements, with much of the surface infrastructure, including permanent bulk air coolers, already installed.
Lucara thanked JDS for its past contributions and emphasised its continued involvement under the MSA.
The company reaffirmed its commitment to extending the life of the Karowe Mine and maintaining its status as a premier source of large, high-quality diamonds.