Sandvik expands underground fleet at Karowe mine

Sandvik has secured orders from Lucara Botswana Pty Ltd, a subsidiary of Lucara Diamond Corp., for a 15-unit underground mining equipment fleet for the Karowe diamond mine in Botswana

The package includes underground drills and loaders, as well as parts, rock tools, aftermarket services and digital solutions. Financing for the investment has been arranged through Sandvik Financial Services (SFS), with an export credit guarantee from the Swedish Export Credit Agency (EKN).

The equipment package comprises 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. The order was booked during the second quarter of 2026, with deliveries already under way and scheduled to continue through the fourth quarter.

The fleet will support Lucara’s continued development of the Karowe underground mine as the operation progresses through its transition from open-pit mining. The Karowe Underground Project is designed to extend the mine’s operating life beyond 2038.

Karowe is recognised as one of the world’s highest-value diamond mines and has gained a reputation for producing large and exceptional stones. Earlier this year, the mine announced the recovery of its tenth diamond weighing more than 1,000 carats, further highlighting the significance of the operation.

“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.”

Beyond the initial equipment supply, Sandvik will provide ongoing aftermarket support intended to enhance fleet availability and productivity throughout the equipment lifecycle. The support package also incorporates rock tools and digital technologies, 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,” stated 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 equipment investment is being supported through an SFS financing structure backed by an EKN export credit guarantee. The arrangement combines Sandvik’s equipment and aftermarket capabilities with its financial services offering, providing support for Lucara’s continued investment in the underground development of Karowe.

“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.”