Tuesday, April 23, 2024

HB Antwerp and Lucara reunite with a new sales deal 

Lucara Diamond Corp has recently forged a fresh diamond sales alliance with Belgian processor and trader HB Antwerp. This pact specifically pertains to select “special” diamonds – those weighing more than 10.8 carats – retrieved from the esteemed Karowe mine situated in Botswana.

Under the terms of the 10-year agreement with HB, Lucara stipulates that the purchase price for its rough diamonds exceeding 10.8 carats shall be contingent upon a mutual estimation of the potential polished outcome. This determination will be facilitated through state-of-the-art scanning and planning technologies. Additionally, Lucara will receive a supplementary sales value uplift, commonly referred to as a “top-up,” based on the actual realized proceeds from the sale of polished diamonds. This arrangement, while ensuring Lucara’s steady cash flow, is expected to surpass the conventional diamond industry tender prices, as outlined in the company’s statement.

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