Singapore Exchange Mainboard (SGX) and Tel-Aviv (TASE) listed,Sarine Technologies Ltd (“Sarine” and along with its subsidiaries “the Group”) (U77:SI; SARN.TA), a worldwide leader in the development, manufacturing, marketing and sale of precision technology products for the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, is pleased to announce growing demand from rough miners and wholesalers, and the initial delivery of the highly efficient and productive rough diamond parcels registration system, Sarine AutoScan™ Plus, serving as the gateway to the Sarine Diamond Journey™ traceability program.
The registration of rough diamond parcels requires an efficient solution, capable of registering large volumes of diamonds in minimal time. Such registration allows entities and countries to register their diamonds into a traceability paradigm that supports verifiable traceability, eliminating the need to transport stones to specific designated facilities in limited localities. This is a critical overhead-eliminating feature, key to the ongoing debate on this topic, on the backdrop of expected G7 restrictions on Russian-sourced diamonds. Registering the diamonds using the newly launched Sarine AutoScan™ Plus system at the rough diamonds' source, or close to it, is crucial for three primary reasons:
It enables "equal opportunity" registration of their rough supply to all players, regardless of location;
It provides a cost-effective solution with minimal overhead, by eliminating shipping time and costs; and
It empowers robust verifiable diamond tracing through Sarine’s proven data-based Sarine Diamond Journey™ solution.
Once the initial rough stones' registration is completed and the diamonds are sold, the manufacturers follow through with subsequent automated registrations generated by their existing planning and quality control systems already in their factories. Registrations occur at the rough (for verification of the link to the stone's origin), semi-rough and polished stages, ensuring consistent, reliable and verifiable rough-to-polish matching and tracing with the highest degree of confidence.
Sarine has initiated delivery of the new Sarine AutoScan™ Plus, its refined highly productive registration system, offering significant advantages over the older model. The new system is much more affordable, is compact enough to fit on any tabletop, offers lightning-fast productivity and requires no specialised operational expertise. Its versatility enables installation anywhere, allowing immediate operational production. We are proud that the highly esteemed Stargems Group, a vertically integrated business, with a legacy of over 40 years in the trading of rough diamonds, has taken delivery of the first system.
Mr. Shailesh Javeri, Chairman of Stargems Group, stated: “We are dedicated to providing our suppliers, customers and the entire industry an enhanced solution that meets their evolving needs. The pressing necessity, as dictated by G7 policies and ESG developments, is to provide a rough diamond supply registered in a highly reliable traceability program. We are delighted to employ the new Sarine AutoScan™ Plus system and Journey™ traceability paradigm, which together offer unprecedented efficiency and accuracy. Stargems is committed to securing the future and the brand value of natural diamonds."
Sarine’s CEO, David Block, emphasised: "We continue to enhance our traceability solution to enable low-cost data-based verifiable traceability for the broadest range of diamonds possible with minimal overhead, as we firmly believe it is vital for the future of natural diamonds. The AutoScan™ Plus is a game changer, enabling all rough miners and suppliers to register their rough diamonds at the source with very little overhead or change to their existing processes. This demonstrates once again our commitment to bringing advanced technological solutions to meet the evolving needs of our industry.”