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Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Lucara signs new sales agreement with HB Antwerp

20 february 2024

Lucara Diamond has signed a new 10-year diamond sales agreement with HB Antwerp concerning all diamonds produced more than 10.8 carats in size from its 100% owned Karowe Diamond Mine in Botswana.

The purchase price paid for Lucara's +10.8 carat rough diamonds shall be based on the mutual agreement of the estimated polished outcome, determined through state-of-the-art scanning and planning technology, together with external benchmarks and more than a decade of Lucara's special stone sales data.

It said a further sales value uplift will be paid to Lucara based on actual polished sales thereafter, less a fixed margin payable to HB.

This pricing mechanism, said Lucara, is expected to deliver regular cash flow for this segment of the company's production profile at better than conventional diamond industry tender prices.

"As we navigate through the ever-evolving landscape of the diamond industry, I'm pleased to announce Lucara's strategic decision to re-enter into a long-term supply agreement with HB Antwerp,” said Lucara chief executive William Lamb.

“This partnership reflects our commitment to ensuring stability and sustainability in our operations. Our collaboration with HB Antwerp presents an opportunity to further enhance our position in the market, building on the knowledge of the past and the understanding of the quality of the polished diamonds produced from our Karowe diamonds.”

Lucara said the agreement will ensure regular cash flow to the company, which will support the ongoing development of the Karowe Underground Project.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished