Sandvik has received orders from Lucara Botswana Pty Ltd, a subsidiary of Lucara Diamond Corp., to supply a 15-unit fleet of underground drills and loaders, plus parts, rock tools and related services, for the Karowe diamond mine in Botswana. The order supports the mine’s ongoing underground development and is complemented by a Sandvik Financial Services (SFS) financing solution backed by a guarantee from the Swedish Export Credit Agency (EKN).
The order includes five Sandvik DD321 development drills, four Toro® LH517i loaders, two Toro® LH621i loaders, two Sandvik DD422i development drills, one Sandvik DS422i cable bolter and one Sandvik DU311 longhole drill, together with aftermarket support designed to maximize equipment availability and productivity throughout the fleet’s operating life. The order was booked in Q2 2026. Equipment deliveries are ongoing and will continue through Q4 2026.
Karowe is one of the world’s highest-value diamond mines and is currently transitioning from open-pit to underground mining through the Karowe Underground Project, which aims to extend the mine life beyond 2038. The mine continues to attract global attention for its strong track record of recovering large, exceptional diamonds, including its tenth diamond weighing more than 1,000 carats, announced earlier this year.
“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, Director Corporate Finance at Lucara. “Sandvik’s combination of leading underground equipment, aftermarket support and financing capability made it a compelling solution for our operation. This investment supports our strategy of building a safe and productive underground mine.”
In addition to the new equipment fleet, Sandvik will support Lucara with aftermarket services, rock tools and digital solutions including My Sandvik and Remote Monitoring Service.
“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,” said Floors Foord, Territory Manager for Botswana at Sandvik Mining. “By bringing together expertise from across Sandvik, we can support Lucara throughout the equipment lifecycle while contributing to the long-term success of its underground operation.”
The fleet investment is being financed through SFS, with the financing backed by an export credit guarantee from EKN. The arrangement brings together Sandvik’s mining and financial services capabilities to support Lucara’s investment in the Karowe Underground Project.
“By combining Sandvik’s mining expertise with our financial services capabilities and EKN’s export credit support, we were able to structure a competitive financing solution around Lucara’s investment requirements,” said Tony Clarke, SFS EMEA Manager at Sandvik. “It demonstrates how financing can complement our equipment and aftermarket offering and help customers advance significant long-term mining investments.”
