Lucara inks sales agreement with HB Group!
Sales agreement for all +10.8 Carat Rough Lucara Diamond announces that it has entered into a definitive supply agreement for the remainder of 2020 with HB Group out of Antwerp, Belgium, in respect of all diamonds produced in excess of 10.8 carats in size from its 100% owned Karowe Diamond Mine in Botswana. Large, high value diamonds in excess of 10.8 carats in size from Karowe account for approximately 70% of Lucara's annual revenues, and though the mine has remained fully operational throughout the Covid-19 pandemic, Lucara made a deliberate decision not to tender any of its +10.8 carat inventories after early March 2020 amidst the uncertainty caused by the global crisis. Under the terms of this novel supply agreement with HB, the purchase price paid for Lucara's +10.8 carat rough diamonds shall be 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 sale...