Lucara Announces Collaboration with Sarine Technologies

Lucara Diamond (TSX:LUC), reports that Clara Diamond Solutions Corporation, Lucara’s wholly owned subsidiary, has entered into a collaboration agreement with Sarine Technologies, the world’s leading developer of technologies for the diamond industry.

Focused on diamond production in Botswana, Lucara is the sole owner of the Karowe diamond mine, which has been in production since 2012, and is among the foremost producers of large diamonds weighing in excess of 10.8 carats.

As quoted from the press release:

Clara will be the exclusive, worldwide customer for customized interfaces and versions of Sarine’s Galaxy® inclusion mapping technology and its Advisor® optimal rough planning for use with Clara’s 100 percent owned, proprietary digital diamond sales platform. Clara is on track to launch in 2018, with inaugural rough diamond sales set to commence in the third quarter.

Eira Thomas, CEO commented: “Clara is delighted to be partnering with Sarine in a ground-breaking Collaboration Agreement that will align Sarine and Clara in their efforts to create a new, leading sales channel for rough diamonds globally. Sarine is the industry leader in diamond Galaxy® scanning and Advisor® planning technology, which is in widespread use in the diamond industry today. Using these technologies in combination with our proprietary analytics, Clara will sell rough diamonds on a stone by stone basis, based on a customers’ specific requirements and needs, aligning rough diamond production to polished demand and unlocking significant value throughout the diamond pipeline.”

David Block, CEO of Sarine Technologies Ltd. commented: “We are excited to have the opportunity to contribute to this initiative as we believe it will unlock value throughout the diamond supply chain which is a core principle of all of Sarine’s endeavours. It will provide numerous benefits to the industry as well as to Sarine, as it broadens our addressable market into the upstream mining and producing segment of the diamond industry value chain. It is also the first opportunity to extend our pay-per-services paradigm to the actual planning of rough diamonds. We plan to further cooperate with Clara on its provenance blockchain initiative, as our Diamond JourneyTM is a natural fit.”

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