Lucara Announces 10-Year Extension on HB Antwerp Sales Agreement

Mining and ExplorationRough MarketOrigin Tracking

Lucara Diamond has concluded and extension on their diamond sales agreement with Lucara Botswana, and HB Antwerp Antwerp Trading, with the intent of selling +10.8 carat rough diamonds produced from Lucara’s Karowe mine through December 31, 2032. The general terms of the deal are as follows: Lucara’s +10.8 carat production is sold at prices based on the estimated polished outcome of each diamond, 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. “As one of the world’s most important sources of large, high value type IIa diamonds, our approach provides consumers with complete confidence in the origin of their diamonds and full insight on how our business is governed, delivering on our commitments to industry leading, best practice in responsible mining in Botswana,” Eira Thomas, CEO commented. Lucara first partnered with HB in 2020 to sell Karowe’s large, high value diamonds, which account for approximately 60% to 70% of Lucara’s annual revenues.

Photo Credit: Lucara | Katheryn Langsford ©