Sarine Technologies will provide digital services for Lucara Diamond Corp.’s new rough-sales platform, allowing customers to obtain diamonds with the exact specifications they require.
Under the agreement, rough stones will undergo Sarine’s Galaxy inclusion mapping, creating a digital fingerprint containing information on the diamond’s attributes, including its size, color and quality. Lucara will upload that information to Clara Diamond Solutions, the miner’s program for streamlining sales.
Simultaneously, buyers will upload their specific polished-diamond requirements, creating an online “order” on Clara, Lucara explained. Clara will use Sarine’s Advisor rough-planning technology and the miner’s own analytics to match rough supply to polished demand.
“Using these technologies in combination with our proprietary analytics, Clara will sell rough diamonds on a stone-by-stone basis, based on a customer’s specific requirements and needs, aligning rough-diamond production to polished demand, and unlocking significant value throughout the diamond pipeline,” Lucara CEO Eira Thomas said Monday.
The system will eliminate the common process whereby miners sell assortments of rough diamonds together in batches, Lucara said. Instead, by matching each stone to the purchaser’s needs, Lucara can achieve the best possible price for each diamond, it argued.
The miner will pilot Clara with several manufacturers and jewelers starting in the third quarter, after which it will invite other diamond producers and manufacturers to try the technology, it said.
Image: Lucara Diamond Corp.