ABOUT THIS REPORT
Lucara Diamond Corp. prepared this report in collaboration with its wholly-owned operating subsidiaries, in particular, Lucara Botswana Proprietary Limited ("Lucara Botswana") (together "Lucara" or the "Company"). This is Lucara's thirteenth consecutive annual report on the sustainability topics that are most material to our business, our stakeholders, and the communities in which we operate. Our reporting journey reflects our commitment to continuous improvement in sustainability performance, risk management, and transparent reporting on our economic, environmental, and social impacts.
Unless otherwise noted, this report covers our performance for the 2024 calendar year, from January 1st to December 31st, 2024. The reported financial information is also for the calendar year, and all dollar amounts are expressed in United States dollars (US$) unless otherwise stated.
The report was prepared in alignment with the Sustainability Accounting Standa1rds Board (SASB) Standards for Metals and Mining (2023) and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). We have also prepared this report with reference to the Global Reporting Initiative (GRI) Universal Standards (2021) and GRI 14: Mining Sector (2024).
The content index and additional information are available at:
https://www.lucaradiamond.com/sustainability /sustainability -reports/.
Lucara's Operations at Karowe Diamond Mine (KDM)
About This Report
Corporate GovernanceOur People Health, Safety & Wellness Communities Environmental Performance Sustainability Report 2024︱About this Report︱02
ABOUT LUCARA
Lucara Diamond Corp. is a publicly listed Canadian diamond mining company headquartered in Vancouver. It operates the 100% owned Karowe Diamond Mine (KDM), one of the world's foremost producers of large, high quality, Type IIA diamonds in excess of 10.8 carats, located in the Boteti District in Botswana.
Lucara is part of the Lundin Group of Companies and is listed on the Toronto Stock Exchange (TSX) in Canada, the Nasdaq First North Growth Market (FNGM) in Sweden, and the Botswana Stock Exchange (BSE), under the symbol "LUC."
Lucara's revenue comes from selling natural diamonds mined by its wholly-owned subsidiary, Lucara Botswana, from KDM. The Company sells its diamonds through HB Antwerp (HB), via quarterly tenders held in Gaborone and Antwerp, and on Clara, a digital sales platform.
The rough diamond digital sales platform Clara Diamond Solutions (Clara) was included in Lucara's previous Sustainability Reports as a 100% owned entity of Lucara Diamond Corp. In October 2024, Lucara announced the sale of 100% of its interest in all the Clara entities. Clara is therefore no longer considered a reporting entity for the purposes of inclusion in Lucara's 2024 Sustainability Report.
Underground Project at Karowe
About This Report
Corporate GovernanceOur People Health, Safety & Wellness Communities Environmental Performance Sustainability Report 2024︱About Lucara︱03
Sustainability Commitments & Guidance
Lucara is committed to putting sustainability at the core of our business. We are a certified member of the Responsible Jewellery Council (RJC), participating in the UN Global Compact (UNGC), and we adhere to the Kimberley Process. Our commitment to responsible mining is also evidenced in our adoption of the Mining Association of Canada's Towards Sustainable Mining (TSM) Standard, the IFC Performance Standards, the World Bank Group's Environmental, Health and Safety Guidelines for Mining (2007) and the Equator Principles. We believe that upholding this commitment is fundamental to our success, across our company and relationships. Our focus drives continuous improvement across our value chain, while enabling us to deliver lasting socio-economic benefits for stakeholders and the local communities where we operate.
We actively collaborate with a network of industry associations and non-governmental organizations (NGOs) that help guide our approach to sustainability performance and governance. These partnerships promote responsible and competitive mining practices, and we leverage their expertise to continuously improve our performance.
Responsible Jewellery Council | |
United Nations Global Compact | |
IFC Performance Standards | |
Kimberley Process | |
Mining Association of Canada's (MAC) Towards Sustainable Mining (TSM) | |
Equator Principles | |
Highlight Story: Record-setting 2,488 carat Motswedi diamond
807 Specials1recovered
41
diamonds greater than 300 carats since 2012
In August 2024, Lucara announced the recovery of an epic 2,4882carat diamond, one of the largest rough diamonds ever unearthed. This remarkable find was detected and recovered by the Company's Mega Diamond Recovery (MDR) X-ray Transmission (XRT) technology, installed in 2017 to identify and preserve large, high-value diamonds.
Motswedi Diamond
The diamond's name was chosen through the Botswana Legacy National Diamond Naming Competition, which was open to all Botswana nationals and drew over 39,000 entries. The 2,488 carat diamond was named Motswedi, which in Setswana, the local language in Botswana, means a water spring or the flow of underground water that emerges to the surface offering life and vitality. The submitted names were judged on creativity and originality, Botswana cultural significance, and relevance to the diamonds themselves, and were evaluated through a series of reviews by a panel of judges. The winner received a 100,000 Botswana Pula (BWP) prize and an exclusive tour of KDM. The continued presence of such diamonds within the eastern magmatic/pyroclastic kimberlite (EM/PK(S)) geological unit of the South Lobe aligns with Lucara's expectations for the development of the Karowe Underground Project (UGP). These diamonds are not just geological phenomena; they are a testament to the incredible potential of KDM and Lucara's innovative approach to diamond recovery.
1Defined as rough diamonds larger than 10.8 carats.
2The carats reflect the final cleaned weight of the rough stone. The stone was previously reported at 2,492-carats.
About This Report
Corporate GovernanceOur People Health, Safety & Wellness Communities Environmental Performance Sustainability Report 2024︱Sustainability Commitments & Guidance︱04
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Lucara Diamond Corp. published this content on May 21, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 21, 2025 at 02:15 UTC.
