Grib Diamonds Adopts The Sarine Diamond JourneyTM Traceability Program

Sarine Technologies Ltd announced the evaluation, planning, processing, measurement, grading and trading of diamonds and gems, is pleased to announce that Grib Diamonds, a Belgian rough diamond company owned by AGD Diamonds with mining operations in Russia, is joining the Sarine Diamond Journey™ traceability program and will offer customers stones with "birth-registrations" authenticating their origin.

Grib Diamonds is an independent privately-owned company that has been selling rough diamonds in Antwerp since 2014. The stones sold are from the Grib diamond pipe operated by AGD Diamonds, located in the northwestern part of Russia, approximately 130 km from the regional capital of Arkhangelsk. It is one of the largest diamond mines developed over the past 10 years. The pipe's development phase was initiated in 2008 and diamond production commenced in 2014. The mine currently has an estimated reserve of 60 million carats.

Grib sell their stones through an efficient online auction system also utilising Sarine's technologies. By providing their customers with comprehensive data pertaining to the quality of the offered assortments, Grib achieves a high level of transparency relating to the auctioned goods. For the higher value stones, Grib provides an external modelling created by Sarine's DiaExpert® system, an internal inclusion map created by the Galaxy® system and a Sarine Advisor® planning file allowing potential buyers to assess possible optimal polishing solutions. Grib will now augment these data with another layer of valuable information- the registration of the diamond's origin and other pertinent information, as derived at source. This will enable their midstream manufacturing customers to provide their downstream retail clients with fully documented traceable diamonds from the mine and throughout the polishing process.

Igor Prokhorenko, Managing Director of Grib said: “We are continuously searching for ways to provide our customers with additional value. The consumer demand for sustainably sourced traceable diamonds is increasing rapidly, and we believe that the transperancy provided by technology-based tracking is the best solution to respond to this challenge and enable our industry to continue prospering. The Sarine Diamond Journey™ solution is the optimal tool to achieve this aim, due to its extensive scope of data, its factual accuracy and that it is derived from typically deployed systems with no need to acquire additional capital equipment and implement process changes, which means minimal operational effort and cost. In addition we plan to implement some of Sarine's technologies into our existing internal traceability efforts at the mine.”

David Block, CEO of Sarine Technologies, commented: ”It is an honor to have Grib/AGD Diamonds join the growing list of producers that have adopted the Sarine Diamond Journey™ solution. Grib Diamonds is proving once again that their commitment to transperancy and to their customers is their first priority. Expanding the list of rough producers implementing our traceablity paradigm at source is important as it is the enabling prerequisite to facilitate the growing number of retailers complying with consumer demand for verifiable traceability information. I expect the Grib brand, empowered by their core values of transperancy, fairness and responsability, will be further enhanced by its thus gaining exposure and recognition by the downstream segment of the industry and the consumer market. I am certain that other significant producers will also soon be embracing the Sarine Diamond Journey™, which will similarly benefit their brand, as well as the entire diamond pipeline.”