The sale marks a strategic shift for Lucara, allowing the company to focus more intently on its core operations.
Clara is a digital marketplace designed to modernize the sale of rough diamonds, connecting buyers and sellers through innovative technology that enhances economic efficiencies for both parties. Clara’s platform integrates verification technologies to support provenance and traceability, addressing the diamond industry’s growing demand for transparency and trust.
The sale agreement covers Clara Diamond Solution GP, Clara Diamond Solutions LP, and Clara Diamond Solutions BV, including all intellectual property rights, commercial contracts, and operational assets. The deal is valued at $3 million upon closing, with an additional provision for the return of 10 million Lucara common shares initially issued when Lucara acquired Clara in 2018.
As part of the agreement, Lucara will retain a 3% net profit interest in Clara’s future earnings and has granted Clara a five-year rough diamond supply agreement. The agreement may be terminated after the second year, or as mutually agreed upon by both parties.
Lucara CEO William Lamb commented on the decision: “The divestiture of Clara enables us to intensify our strategic focus on maximizing returns and long-term value creation at our world-class Karowe diamond mine in Botswana. Our future growth resides in the successful execution of the Karowe underground expansion project.”
Aaron Ariel, Clara’s managing director and one of its original founders, expressed optimism about the future: “Nine years ago, we had a big idea to transform the global rough diamond market through technology. Today, we’re excited about the opportunity to fully explore its potential. We believe Clara will become the industry’s premier global marketplace for rough diamonds.”
This sale allows Lucara to concentrate on its flagship Karowe mine, while Clara’s original founders take back control of the innovative platform, aiming to further its impact on the diamond industry.
