Lucara exit throws HB, gov’t deal in limbo

Lucara, which represents HB Antwerp’s principal client, terminated its deal with the Belgian firm in the early hours of Thursday morning (local time) citing “a material breach of financial commitments” by HB. A few weeks ago, HB was rattled by a dispute between its founding shareholders over the strategic direction of the four-year old firm.

Masisi, who in March announced that government wanted to purchase a 24% stake in HB as a way of getting a foothold in the diamond value chain, struck a non-committal tone during a briefing yesterday.