Lucara Botswana, a subsidiary of Lucara Diamond (TSE: LUC), has ordered a 15-unit-fleet of underground drills and loaders from Sandvik (STO: SAND) to support its Karowe mine in southern Africa.
Sandvik says the package includes five DD321 development drills, four Toro LH517i loaders, two Toro LH621i loaders, two DD422i development drills, one DS422i cable bolter and one DU311 longhole drill. Sandvik will also provide support services, including rock tools, spare parts and digital solutions for monitoring the machinery.
“As we continue developing the Karowe underground mine, we were looking for a partner that could support us throughout the project lifecycle,” said Benjamin Wang, the director of corporate finance at Lucara.
The order was booked in Q2 of 2026, with deliveries ongoing and expected to continue through Q4 of 2026. Specific financial details were released.
Floors Foord, Sandvik’s Botswana territory manager, added, “This order demonstrates the breadth of our offering and our ability to support customers in Botswana with an integrated solution that extends beyond the equipment.”
The investment is financed through Sandvik Financial Services with an export guarantee from the Swedish Export Credit Agency.
Tony Clarke, Sandvik’s SFS manager, said the arrangement “demonstrates how financing can complement our equipment and aftermarket offering and help customers advance significant long-term mining investments.”
Located about 515 kilometres from Gaborne, the Karowe diamond deposit was originally discovered by De Beers in the 1970s, before its ownership was sold to Lucara in 2009. Notable recoveries include the 2,488 carat Motswedi, the 1,758 carat Sewelô and the 1,109 carat Lesedi La Rona.
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