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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.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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