Lucara Diamond has terminated its engineering, procurement and construction management (EPCM) contract with JDS Energy and Mining to develop its Karowe underground project in Botswana.
The termination was effective March 31, 2025.
Lucara, however, said it entered into a master service agreement (MSA) with JDS to complete specific engineering components of the project. All site-based contracts and activities will transition to owner-managed operations.
This decision aligns with Lucara's commitment to optimising project execution and maximising shareholder value.
It said the shift to owner-managed operations for site-based activities is expected to provide several benefits, including enhanced cost control and operational efficiency, improved flexibility in decision-making and resource allocation, direct oversight of critical project milestones and timelines, and leveraging Lucara's extensive in-house expertise and knowledge of the Karowe mine.
“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,” said Lucara chief executive William Lamb.
“By taking direct control of site-based activities, we are positioning ourselves to respond more rapidly to project needs and challenges. This approach will enable us to drive the UGP forward with greater efficiency and precision, ultimately delivering enhanced value to our shareholders and stakeholders.”
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
Produced and published as part of the project "Best practices have a voice"
