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 17, 2025
Mythical Set of Patek Philippe Pocket Watches Expected to Sell for $10M+A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.
TrendsSep 17, 2025
Silvia Furmanovich’s Book Tells the ‘Journey of a Jeweler’The Brazilian jeweler’s latest book marks her namesake brand’s 25th anniversary and tells the tale of her worldwide collaborations.
WatchesSep 17, 2025
Bob’s Watches Acquires Vintage Rolex Won on ‘The Price is Right’ The Submariner Ref. 1680 with a Tiffany & Co. dial came from the original owner, who won it as a prize on the game show in the 1970s.
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment ProgramWith their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.
TechnologySep 17, 2025
Jewelers Mutual Launches Shipping Solution App for Shopify The new integration allows users to manage shipments directly from the Shopify dashboard.
Weekly QuizSep 12, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsSep 16, 2025
Out & About: 7 Great Quotes From Converge in CarlsbadAt Converge 2025, Editor-in-Chief Michelle Graff attended sessions on DEI, tariffs, security, and more. Here are her top takeaways.
CrimeSep 16, 2025
2 Robbery Suspects Killed in California Pawn Shop ShootoutSix people were shot last week at an Oakland cash-for-gold shop as employees exchanged gunfire with individuals trying to rob the store.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
CollectionsSep 16, 2025
Chopard Adds New Designs to Its ‘Ice Cube’ Capsule CollectionThe jeweler has expanded its high jewelry offering, which launched last year, with new pieces featuring its cube motif that debuted in 1999.
EditorsSep 15, 2025
Skipping the Necklace, Embracing Snakes: The Best Jewelry From the 2025 Emmy AwardsAssociate Editor Natalie Francisco shares eight of her favorite jewelry looks from the 77th annual Primetime Emmy Awards, held Sunday night.
SurveysSep 15, 2025
Resilient Shoppers to Boost Holiday Retail Sales, Says DeloitteIt’s predicting a rise in retail sales this holiday season despite economic uncertainty and elevated inflation.
SourcingSep 15, 2025
AGTA Elects 8 Members to Board of Directors The newly elected directors will officially take office in February 2026 and will be introduced at the organization’s membership meeting.
EditorsSep 12, 2025
Out & About: Mining Sapphires in Rock Creek, MontanaAssociate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.
TrendsSep 12, 2025
Piece of the Week: Arunashi’s Fordite and Rhodolite EarringsFordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.
Events & AwardsSep 12, 2025
Al Gilbertson Wins 2025 Robert M. Shipley AwardGilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.
Policies & IssuesSep 11, 2025
Supreme Court to Hear Tariffs Case in November A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.
MajorsSep 11, 2025
Tabayer Opens Nordstrom Shop-In-ShopLocated in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.
SourcingSep 11, 2025
Need to Sell More Natural Diamonds? De Beers Has an App for ThatThe new, free app offers accessible educational content, like games and podcasts, for U.S. retailers.
MajorsSep 10, 2025
Stuller to Swap Gold Scrap for Full Credit to AccountAs the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.
SourcingSep 10, 2025
Tech Meets Style in the New Loewe x Jacob & Co. HeadphonesJacob & Co. partnered with the German technology company on two pairs of headphones, one set with diamonds and the other with sapphires.
TrendsSep 10, 2025
Tiffany & Co. Archival Jewels Bring Life to ‘Frankenstein’Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.
MajorsSep 10, 2025
24 Karat Club of New York’s Banquet to Return to Waldorf AstoriaThe Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.
SourcingSep 09, 2025
Anglo American to Merge With Canadian Copper Miner Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.
AuctionsSep 09, 2025
‘The Mellon Blue’ to Return to Auction, This Time at Christie’s The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.
AuctionsSep 09, 2025
Phillips Names Dianne Batista Head of Jewels, New YorkThe industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.
MajorsSep 09, 2025
MJSA Education Foundation Announces 2025 Scholarship WinnersThe nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.
IndependentsSep 08, 2025
Take a Look Inside the New Korman Store in AustinThe Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.
