17-7-2020
Lucara Diamond has a definitive supply agreement with Antwerp-headquartered HB Group to sell all diamonds weighing over 10.8 carats unearthed at its Karowe Diamond Mine in Botswana through the end of 2020.
The purchase price paid by HB Group shall be based on estimated polished outcome, which will be determined by scanning and planning results. Revenue generated after the sale of polished minus manufacturing cost and a fee will be paid to Lucara.
Eira Thomas, Lucara CEO commented: “This agreement will deliver regular revenues on superior pricing terms to those currently being achieved at the tender and, helps position Lucara to move forward with key underground expansion activities for Karowe in 2020.” He added during uncertain times, better alignment between producers, manufacturers and retailers helps establishing a healthier, more efficient global diamond supply chain.
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