mmegi

The disrupter disrupted: HB Antwerp’s reality check

Going deeper: Karowe is due to go underground by 2028 PIC: LUCARADIAMONDCORP.COM
Going deeper: Karowe is due to go underground by 2028 PIC: LUCARADIAMONDCORP.COM

This year’s steep fall in diamond prices, particularly the gap between rough and polished stones, squeezed margins at HB Antwerp.

As a result this saw the firm falling behind in payments to Lucara and led to the recent shock termination of a 10-year deal between the two, Mmegi can reveal.

Highly placed insiders who witnessed the final days of a deal hailed as an industry disruptor, described a frenetic few weeks of talks on the settlement of outstanding dues by HB Antwerp to Lucara.

Editor's Comment
Human rights are sacred

It highlights the need to protect rights such as access to clean water, education, healthcare and freedom of expression.President Duma Boko, rightly honours past interventions from securing a dignified burial for Gaoberekwe Pitseng in the CKGR to promoting linguistic inclusion. Yet, they also expose a critical truth, that a nation cannot sustainably protect its people through ad hoc acts of compassion alone.It is time for both government and the...

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