18 May 2021
DiamondWorld Directory
Home |
News
Home
HB Antwerp and Lucara sign a long-term supply agreement
Following an initial six-month cooperation, Lucara Diamond Corp. and HB Antwerp are stepping into a long-term partnership
By: Diamond World News Service
|
Apr 9 2021 11:22AM
|
Reference: 25506  

DecreaseIncrease

HB Antwerp and Lucara Diamond Corp surprised the diamond world in 2020 when they entered into a unique supply agreement. This agreement saw HB Antwerp formally commit to purchasing all of Lucara Diamond’s +10.8 carat rough diamonds from the Karowe mine in Botswana.  Today, both parties are pleased to announce a new long-term partnership agreement. 

For a minimum period of 24 months, HB Antwerp will purchase all of Lucara Diamond’s +10.8 carat rough diamonds from the Karowe mine in Botswana. These large high value diamonds from Karowe, account for approximately 70 percent of Lucara Diamond’s annual revenues.  

Under the terms of this supply agreement, the purchase price paid for each 10.8 carat rough diamond is based on the estimated polished outcome, determined through state-of-the-art scanning and planning technology, with a true up paid on actual achieved polished sales thereafter, less a fee and the cost of manufacturing. 

Oded Mansori, CEO HB Antwerp: “More than a supply agreement, this deal structurally embeds a more transparent and sustainable way of working in the diamond value chain. For the first time, different partners of the supply chain are fully aligned, sharing complete data and information and this throughout the process from mine to consumer. We are truly proud with this innovative and straightforward collaboration that has proven itself through the volatile and uncertain reality of 2020. We are confident to achieve even better results during the term of this new contract and demonstrate the power of a true partnership.”  

Eira Thomas, CEO commented: “The decision to sell our +10.8 carat rough diamonds under a committed supply agreement with HB beginning in July of 2020 has helped support prices for this critical segment of our production amidst pricing uncertainty caused by the ongoing global pandemic. Not only have rough diamond prices experienced a positive re-bound over the past two quarters, Lucara is also beginning to see the benefits of this strategy in accessing a broader marketplace. With this agreement we are creating better alignment between all participants and establish a healthier, more efficient global diamond supply chain." 

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2021
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 29182
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 5127
GJEPC Chairman Interview
Views: 25547
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 34634
Promo for IJ Awards 2012 at NDTV Profit
Views: 48210
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 61039
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 19845
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 46956
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 45856
Advertisement
Finestar Diamonds
Advertisement
Kosher 250300
Member of:
Supporter of: