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
The Boko-led administration has to tread carefully

‘When you make peace withyourself, you make peace with the world’- Maha GhosanandaThis may come at a huge cost if not handled properly. What started off on Labour Day in Letlhakane this year, where Boko was in attendance when the militant lawyer-cum-trade unionist, Robert Rabasimane rebutted the President’s address in defence of the trade union has seemingly spiralled out of control. The issue is now creating a cat-and-mouse type of a...

Have a Story? Send Us a tip
arrow up