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
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

Have a Story? Send Us a tip
arrow up