Lucara Diamond Corp has announced the sale of its 100% interest in the Clara Rough Diamond Sales Platform to its original founders, a group led by the HRA Group of Companies and Eira Thomas. The Clara platform is a digital marketplace for rough diamonds, using technology to modernise the buying and selling process while improving transparency and traceability.
Under the terms of the agreement, the founders will acquire full ownership of Clara, including all associated intellectual property rights, commercial contracts, and operating assets. The total consideration includes US$3 million in cash at closing, the return of 10 million Lucara shares, and the assumption of certain liabilities. Lucara will retain a 3% Net Profit Interest on Clara’s earnings and has signed a five-year supply agreement for rough diamonds that meet specific criteria.
Lucara’s President and CEO, William Lamb, emphasised that this divestiture will allow the company to focus on its core operations at the Karowe Diamond Mine in Botswana, particularly its underground expansion project. Lamb acknowledged that while Clara is an innovative platform, scaling it requires input from other diamond producers, something difficult to achieve while Lucara owns the platform.
Aaron Ariel, Managing Director and original founder of Clara, said that the idea for the platform was born out of frustration with purchasing unnecessary rough diamonds that were bundled with needed goods. Ariel expressed excitement about the potential to transform the global rough diamond market and intends to collaborate with stakeholders to make Clara the leading marketplace in the industry.
