SourcingOct 08, 2024
Rio Tinto Begins New Phase of Production That Will Extend Diavik’s LifeSourcingOct 10, 2024
Lucara Sells Clara to Its Original Founders
CEO William Lamb said divesting the diamond sales platform allows the company to focus on the underground expansion of Karowe.
The 1,094-carat rough diamond recovered from Lucara Diamond Corp.’s Karowe mine in Botswana last month. The diamond mining company has sold its rough diamond sales platform, called Clara, to the group that founded it almost a decade ago.
Vancouver, British Columbia—Lucara Diamond Corp. announced this week that it is selling its rough diamond sales platform back to its founders, a group that includes the mining company’s former CEO.
Clara Diamond Solutions is a technology-led platform that utilizes proprietary analytics, as well as cloud and blockchain technologies, to sell rough diamonds to customers one-by-one based on their needs, rather than in assortments that may contain stones they cannot use.
It was designed to streamline the supply chain and make it more efficient, and also allows buyers to be able to trace diamonds back to their source.
Lucara originally acquired Clara from its founders in 2018 for an up-front consideration of 13.1 million shares of Lucara (then worth about $29 million).
The company also agreed to a profit-sharing mechanism whereby the technology’s founders received a percentage of the annual EBITDA generated by Clara every years for 10 years.
As of Oct. 4, Lucara is divesting 100 percent of its interest in Clara to a group led by Vancouver-based diamond manufacturer HRA Group and Eira Thomas.
Thomas served as Lucara’s CEO from February 2018 to August 2023, when the company reinstated William Lamb as CEO.
Related stories will be right here …
Clara Diamond Solutions is a technology-led platform that utilizes proprietary analytics, as well as cloud and blockchain technologies, to sell rough diamonds to customers one-by-one based on their needs, rather than in assortments that may contain stones they cannot use.
It was designed to streamline the supply chain and make it more efficient, and also allows buyers to be able to trace diamonds back to their source.
Lucara originally acquired Clara from its founders in 2018 for an up-front consideration of 13.1 million shares of Lucara (then worth about $29 million).
The company also agreed to a profit-sharing mechanism whereby the technology’s founders received a percentage of the annual EBITDA generated by Clara every years for 10 years.
As of Oct. 4, Lucara is divesting 100 percent of its interest in Clara to a group led by Vancouver-based diamond manufacturer HRA Group and Eira Thomas.
Thomas served as Lucara’s CEO from February 2018 to August 2023, when the company reinstated William Lamb as CEO.
Under the terms of the sale agreement, the founders will acquire Lucara’s interests in Clara Diamond Solutions GP Inc., Clara Diamond Solutions Limited Partnership, and Clara Diamond Solutions B.V., including all intellectual property rights, commercial contracts, and operating assets.
The founders will pay $3 million cash at closing for Clara plus the return of what amounts to 13.4 million shares of Lucara.
Lucara will retain a 3 percent net profit interest on Clara’s net earnings.
The mining company also has granted Clara a five-year rough diamond supply agreement for stones meeting the size and quality specifications for diamonds traditionally sold through the Clara platform.
The agreement can be terminated after its second anniversary, or at any time that both parties agree to do so.
The sale is subject to customary closing conditions and amendments.
Lamb said selling Clara allows Lucara to focus on the Karowe Diamond Mine in Botswana, its one active diamond mine.
“The company’s core competencies and future growth reside in the successful execution of the Karowe underground expansion project. While the Clara platform provides an innovative digital channel for rough diamond sales, the successful onboarding of other producers’ rough production required to scale the platform remains unattainable while the platform is owned by a pure-play diamond producer,” he said.
“Lucara maintains its conviction, reinforced by our supply agreement with Clara, that this technology will play an important role in the shaping of a demand-driven diamond sector.”
Aaron Ariel, who co-founded Clara alongside Ophir Stolov and is currently HRA Group’s vice president of operations and strategy, said they cannot wait to work with the Clara team on taking the platform “to the next level.”
“Nine years ago, while at our factory sorting through a mountain of rough diamonds—many of which we didn’t need but were required purchases, bundled inseparably with product needed to fulfill urgent orders—we had a big idea for a technology that could transform the global rough diamond market for everyone,” he said.
“Today, we are excited about the opportunity to realize its full potential, which remains largely unexplored.”
More on Sourcing
The Latest
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
MajorsSep 21, 2026
Longtime Industry Executive Pamela Bernstein-Gulla to RetireBernstein-Gulla has been working in the jewelry industry for 40 years, most recently as chief engagement officer for Hill & Co.
IndependentsSep 21, 2026
Bhindi Jewelers Moves Into New, Larger California StoreThe relocated Glendale store, now at The Americana at Brand, was designed to be a contemporary “timepiece haven” inspired by luxury resorts.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
AuctionsSep 18, 2026
7.52-Carat Unheated Paraíba Tourmaline Sells for $1.3M at Sotheby’s The top lot of the auction house’s Hong Kong jewelry sale was an Art Deco Mauboussin necklace with ruby beads, which sold for $2 million.
Weekly QuizSep 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Policies & IssuesSep 18, 2026
Tariffs, Retail Crime Top of Mind at JA’s Annual Fly-In Retailers and manufacturers headed to the Capitol this week to discuss tariff exemptions for diamonds and gemstones, among other issues.
CollectionsSep 18, 2026
Nanis Transforms Its ‘Boule’ Into a Mirror Our Piece of the Week is a pair of drop earrings from the “Sway” collection featuring Nanis’ first use of mirror-polished gold.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
GradingSep 18, 2026
De Beers Introduces Faster Version of Diamond Screening Machine SynthDetect 2 can scan a full tray in less than five minutes, De Beers said, making it six times faster than its predecessors.
AuctionsSep 18, 2026
Noonans To Auction Medieval Gold Seal Ring Recovered By 2 FriendsTwo metal detectorists discovered the ring, which may have belonged to English noblewoman Matilda of Lancaster, in Suffolk.
Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s DeskThe bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
Events & AwardsSep 17, 2026
This Is the Winner of the 2026 Robert M. Shipley AwardThe American Gem Society presented the annual award to a former president of its board.
CollectionsSep 17, 2026
Cynthia Erivo, Zoë Chicco’s Jewelry Collab Is an Ode to TransformationThe “Chrysalis” capsule centers butterfly motifs representing growth, transformation, and the unfolding of who you are.
Events & AwardsSep 17, 2026
Louisiana Retailer Kevin Patton Wins Lifetime Achievement AwardJewelers of Louisiana presented Patton, the third-generation president of Pattons Fine Jewelry, with the award at its annual convention.
PodcastsSep 16, 2026
Episode 9: Remembering Cindy EdelsteinTwo special guests join the podcast to commemorate the 10th anniversary of the designer advocate, mentor, and author’s untimely passing.
CollectionsSep 16, 2026
Jessica McCormack, L’Objet Collab on Homewares CollectionMcCormack brings sea-inspired motifs from her “Beaches” collection to L’Objet’s tableware, vanity pieces, and first-ever cutlery set.
CrimeSep 16, 2026
JSA Issues Warning to NJ Jewelers After Rash of Smash and GrabsNine New Jersey jewelers have been victims of smash-and-grab robberies this year, prompting JSA to circulate a list of recommendations.
IndependentsSep 16, 2026
Bromberg & Co. Names New PresidentMarlin “Brian” Hood, who has been with the store for 20 years, will succeed Ricky Bromberg, who died earlier this month.
MajorsSep 16, 2026
Midas Chain Releases ‘House of Midas’ Bridal CatalogThe new bridal catalog features the latest jewelry collections and designs from timeless classics to modern silhouettes.
EditorsSep 15, 2026
2026 Emmys Jewelry: An Either/Or Proposition Stars wore either a necklace or earrings at 78th Primetime Emmy Awards but rarely both, Natalie Francisco notes.
ColumnistsSep 15, 2026
The Levels Your Website Must Clear Before AI Recommends YouJennifer Shaheen compares this new era of AI-powered SEO to a video game: your website must clear one level before advancing to the next.
IndependentsSep 15, 2026
Armadani Launches Retail Support Program for Holiday SeasonThe program highlights “Made in Italy” fine jewelry with digital merchandising, sales education, and local marketing support.
EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
