Lucara Diamonds Corp. and its partnerAfrican Diamonds announced the appointment of Ribson Gabonowe as CEO of Boteti Mining. Lucara holds a 60% interest in Boteti and AFD 40%.



A statement by Lucara Diamonds, said that "Ribson brings many years of experience as Director of Mines in Botswana, where he was responsible for the administration of mineral licenses and involved in negotiations of major mineral agreements for diamonds, copper/nickel, soda ash and coal."



William Lamb, President and CEO of Lucara, added: "We are very pleased that Ribson has joined the Boteti team. His experience will add significant value to the development of the AK6 mine."



The diamond miner also reported that it, along with partner African Diamonds Plc, has received an updated feasibility study on the Boteti Mining project in Botswana.



The study details cost effective technical solutions designed to increase the mine's output, and indicated that the first phase will require a capital investment, including contingency, of $120 million.



Operating costs over the life of mine are estimated at $17.20 per ton treated, according to a financial model stating free cash flow of $164 million.