SourcingSep 27, 2023
India Calls for 2-Month Moratorium on Rough Diamond Imports SourcingSep 29, 2023
Lucara Severs Ties With HB Antwerp
The two companies initially partnered during the pandemic and had just signed a 10-year sales agreement in November 2022.
A 692-carat rough diamond Lucara Diamond Corp. mined earlier this year at its Karowe mine in Botswana. Lucara had a 10-year agreement to sell all its “specials” (diamonds 10.8 carats and larger) to HB Antwerp for manufacturing but announced this week that it is terminating the agreement.
Vancouver, British Columbia—Lucara Diamond Corp. is severing ties with manufacturer HB Antwerp less than a year into the companies’ decade-long deal.
In a short statement released Wednesday, the mining company, which underwent a change in leadership last month, said it was exercising its right to terminate its agreement with HB Trading BV due to a “material breach of financial commitments” by HB.
Lucara declined to provide additional details on its decision to terminate the contract, stating only that it will provide the market with more information on its sales plans in the future.
HB Antwerp did not respond to request for comment.
Lucara and HB Antwerp first linked up in early 2020, pre-pandemic, when Lucara announced it would partner with the Antwerp-based diamond manufacturer and fashion giant Louis Vuitton to cut the 1,758-carat “Sewelô” diamond and turn it into a jewelry collection.
In July of that year, Lucara and HB Antwerp announced a “groundbreaking” partnership in which HB would purchase and manufacture all the 10.8-carat or larger rough coming out of Lucara’s Karowe mine for the rest of 2020.
Related stories will be right here …
In a short statement released Wednesday, the mining company, which underwent a change in leadership last month, said it was exercising its right to terminate its agreement with HB Trading BV due to a “material breach of financial commitments” by HB.
Lucara declined to provide additional details on its decision to terminate the contract, stating only that it will provide the market with more information on its sales plans in the future.
HB Antwerp did not respond to request for comment.
Lucara and HB Antwerp first linked up in early 2020, pre-pandemic, when Lucara announced it would partner with the Antwerp-based diamond manufacturer and fashion giant Louis Vuitton to cut the 1,758-carat “Sewelô” diamond and turn it into a jewelry collection.
In July of that year, Lucara and HB Antwerp announced a “groundbreaking” partnership in which HB would purchase and manufacture all the 10.8-carat or larger rough coming out of Lucara’s Karowe mine for the rest of 2020.
Under the agreement, the price paid was based on the expected polished outcome, minus a fee and the cost of manufacturing. The deal gave Lucara a consistent source of cash flow at a time when markets worldwide were at a standstill due to COVID-19.
Lucara announced a 24-month extension to the partnership in April 2021 and in November 2022, the two entered into a 10-year sales agreement.
For HB Antwerp, the end of the partnership follows a messy, ongoing divorce from one of its three co-founders, Oded Mansouri, and calls into question its future with the Government of Botswana, which planned to take a 24 percent stake in the company.
Botswana President Mokgweetsi Masisi said in a press conference broadcast live on Facebook Thursday the country was reassessing the situation in light of the latest news.
He also noted the government’s arrangement with HB Antwerp is an “agreement in principle” only, not a signed, final deal.
The Lucara-HB Antwerp break-up is the second bit of negative news to emerge from the Antwerp diamond industry this week.
Earlier in the week, JCKOnline.com reported that Antwerp World Diamond Centre President David Gotlib had resigned.
His resignation comes after 16 major diamond companies with offices in Antwerp sent a letter to address to the AWDC board, Gotlib and CEO Ari Epstein expressing concerns about the organization’s lack of transparency, accountability, and inclusivity.
In the letter, which National Jeweler obtained, the companies accuse AWDC of not being transparent when it comes to elections and crafting “major policies” without consulting any of them, even when it impacts their businesses.
The letter alludes to the recent proposal the Belgian government, which is backed by the AWDC, put forth regarding additional restrictions on Russian diamonds that are about to hit Western markets at the behest of the G7, a plan known as the “EU Proposal.”
According to the letter, the EU Proposal was formulated without their knowledge. It states: “In light of the Russian supply challenge, we’ve now seen through leaked documents that the AWDC CEO has crafted and pursued policies without consulting any key industry players (openly at least).”
It concludes by calling upon AWDC to start communicating with diamond companies in Antwerp and including them in decisions that are germane to their businesses.
“We need involvement in relevant events that have anything to do with the Antwerp diamond industry. We need to be consulted before major structural or legislative moves are proposed … We do not want to be the last to find out about issues that clearly affect us all,” it states.
The letter’s signatories were: AC Diam, Arjav Diamonds, Dharam Diam, Diacore, Dianco, Gemasia, IGC, Kiran Exports, Komal Gems, MID, Mishal, Pinchasi Diamonds, Rosy Blue, Samir Gems, Swintudiam, and Taché Diamonds.
AWDC declined to comment on Gotlib’s resignation or the letter.
Earlier in the week, JCKOnline.com reported that Antwerp World Diamond Centre President David Gotlib had resigned.
His resignation comes after 16 major diamond companies with offices in Antwerp sent a letter to address to the AWDC board, Gotlib and CEO Ari Epstein expressing concerns about the organization’s lack of transparency, accountability, and inclusivity.
In the letter, which National Jeweler obtained, the companies accuse AWDC of not being transparent when it comes to elections and crafting “major policies” without consulting any of them, even when it impacts their businesses.
The letter alludes to the recent proposal the Belgian government, which is backed by the AWDC, put forth regarding additional restrictions on Russian diamonds that are about to hit Western markets at the behest of the G7, a plan known as the “EU Proposal.”
According to the letter, the EU Proposal was formulated without their knowledge. It states: “In light of the Russian supply challenge, we’ve now seen through leaked documents that the AWDC CEO has crafted and pursued policies without consulting any key industry players (openly at least).”
It concludes by calling upon AWDC to start communicating with diamond companies in Antwerp and including them in decisions that are germane to their businesses.
“We need involvement in relevant events that have anything to do with the Antwerp diamond industry. We need to be consulted before major structural or legislative moves are proposed … We do not want to be the last to find out about issues that clearly affect us all,” it states.
The letter’s signatories were: AC Diam, Arjav Diamonds, Dharam Diam, Diacore, Dianco, Gemasia, IGC, Kiran Exports, Komal Gems, MID, Mishal, Pinchasi Diamonds, Rosy Blue, Samir Gems, Swintudiam, and Taché Diamonds.
AWDC declined to comment on Gotlib’s resignation or the letter.
More on Sourcing
The Latest
AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
