Lucara Diamonds Announces New CEO, invests in Blockchain Platform

Origin Tracking
26/02/2018 10:13

Canada’s Lucara Diamond announced that effective today, William Lamb will be retiring as Lucara's Chief Executive Officer and stepping down from the Board of Directors. Eira Thomas, a founder and director of the Company will be assuming the position of CEO.

Under Mr. Lamb’s leadership, Lucara’s flagship Karowe mine evolved into one of the world’s highest margin diamond mines and the foremost producer of large Type IIa diamonds exceeding 10.8 carats, including the historic Lesedi La Rona, the second largest gem diamond ever recovered, and the 813 carat Constellation, which sold for a record US$63.1 million.

Mr. Lamb galvanized Lucara's reputation as an innovator, championing its technologically advanced mine design to optimize revenues and minimize diamond losses through both autogenous milling and the use of X-ray transmission sorters to preserve large, high value stones and to create a simpler, more secure and efficient flowsheet. "I am proud to have served as Lucara's CEO for almost a decade, during which time, Karowe was taken from feasibility through to a steady state, world class, operating diamond mine. Eira, as the new CEO, will be well supported by a focused and experienced team at Karowe as we look to expand the mine underground, and I am pleased to be taking on a key advisory role as we embark upon this next, exciting phase in Lucara's development," says Lamb.

Ms. Thomas brings more than 25 years’ experience in the mining industry, including 16 years Dominion Diamond (formerly Aber Diamond Corporation), where she served in ever increasing roles from initial discovery as a geologist to Vice President Exploration and ultimately a Director of the Board.

The companies last announcement under Lamb’s reign was the acquisition of Clara Diamond Solutions Corporations, a digital blockchain platform, for 13.1m shares, or $29m. The company applies algorithms to match rough diamond production with polished manufacturing demand. It also uses blockchain to track diamonds as they move through the supply chain. “The recent acquisition of Clara marks an exciting milestone for the Company and is consistent with our approach of looking well beyond existing industry practice, adopting innovation and progressive development as a key pillar of the Company's success,” said Lamb. Lucara intends to commercialize the Clara platform in the coming months using a selection of the diamond production from the company's Karowe Diamond Mine. Thereafter, Clara will be scaled to accommodate diamond uptake from a variety of sources across the supply chain.