Clara Diamond Solutions: Revolutionizing the Global Rough Diamond Market Through Innovation and Partnership
The global diamond industry stands at the cusp of a significant transformation, driven by technological innovation and a commitment to efficiency and transparency. At the heart of this evolution is Clara Diamond Solutions Corporation (“Clara”), a wholly-owned subsidiary of Lucara Diamond Corp. (“Lucara”). Clara is poised to redefine how rough diamonds are traded, moving away from traditional, often opaque, methods to a modern, digital-first approach. This ambitious vision is brought to life through a groundbreaking Collaboration Agreement with Sarine Technologies Ltd. (“Sarine”), the undisputed world leader in advanced technologies for the diamond sector. This strategic partnership is not merely a business alliance; it represents a synergistic effort to create a new, leading sales channel for rough diamonds worldwide, promising unprecedented value unlock across the entire diamond pipeline.
A Partnership Forged in Innovation: Clara and Sarine
The collaboration between Clara and Sarine is foundational to the former’s disruptive model. Under the terms of the exclusive worldwide agreement, Clara gains unparalleled access to customized interfaces and versions of Sarine’s highly acclaimed Galaxy® inclusion mapping technology and its Advisor® optimal rough planning solutions. These cutting-edge tools are meticulously integrated into Clara’s 100% owned proprietary digital diamond sales platform. This integration is critical, as it allows Clara to leverage Sarine’s industry-standard technology to achieve a level of precision and customization previously unimaginable in rough diamond sales. With its official launch slated for 2018, and inaugural rough diamond sales commencing in the third quarter, Clara is set to make an immediate and profound impact.
The Vision from the Top: Redefining Diamond Sales
Eira Thomas, CEO of Lucara and a driving force behind Clara, eloquently articulated the excitement surrounding this partnership. “Clara is delighted to be partnering with Sarine in a ground-breaking Collaboration Agreement that will align Sarine and Clara in their efforts to create a new, leading sales channel for rough diamonds globally,” she stated. Her vision extends beyond merely facilitating transactions; it aims to fundamentally transform the market. Sarine’s Galaxy® scanning and Advisor® planning technologies are already pervasive within the diamond industry, recognized for their accuracy and reliability. By combining these proven technologies with Clara’s proprietary analytics, the platform will enable stone-by-stone sales, meticulously matching rough diamonds to a customer’s specific requirements and needs. This innovative approach promises to align rough diamond production directly with polished demand, thereby unlocking significant and often untapped value throughout the entire diamond pipeline, from mine to market.
Sarine’s Perspective: Expanding Market Reach and Value
David Block, CEO of Sarine Technologies Ltd., echoed this enthusiasm, highlighting the profound implications for his company and the broader industry. “We are excited to have the opportunity to contribute to this initiative as we believe it will unlock value throughout the diamond supply chain, which is a core principle of all of Sarine’s endeavors,” Block commented. For Sarine, the collaboration represents a strategic expansion of its market reach, extending its influence into the upstream mining and producing segments of the diamond industry value chain. Furthermore, this partnership marks a significant milestone: it is Sarine’s first opportunity to extend its highly successful pay-per-services paradigm to the actual planning of rough diamonds, creating new revenue streams and deeper integration within the industry. Block also emphasized future cooperation with Clara on its provenance blockchain initiative, noting that Sarine’s well-established Diamond Journey™ solution is a natural and complementary fit for ensuring transparency and traceability.
How Clara Diamond Solutions Works: A Digital Transformation
Clara’s operational model is a masterclass in modern digital innovation, seamlessly integrating proprietary analytics with cutting-edge cloud and blockchain technologies. The platform’s core mission is to sell diamonds individually, based on the precise demands of the polished diamond market. This transforms the traditional sales process, driving unparalleled efficiencies and unlocking substantial value for both diamond producers and manufacturers.
The End-to-End Digital Workflow:
- Digital Fingerprinting at the Source: Under the exclusive collaboration agreement with Sarine, selected rough diamonds recovered at a mine site undergo immediate and comprehensive Galaxy® inclusion mapping. This advanced scanning technology creates a unique “digital fingerprint” for each stone, capturing its internal characteristics with exquisite detail. This data is then securely uploaded to the Clara platform, forming a foundational digital twin for every diamond.
- Buyer-Centric Requirements: Simultaneously, diamond buyers – including manufacturers and jewelers – access the Clara platform to upload their specific polished diamond requirements. These detailed specifications include desired size, cut, color, and clarity, allowing buyers to define their precise needs for various market segments. This process essentially creates a bespoke ‘order’ within Clara, moving away from generalized purchasing.
- Intelligent Matching and Optimization: The true genius of Clara lies in its ability to intelligently match supply with demand. Utilizing Sarine’s Advisor® optimal rough planning technology in conjunction with Clara’s proprietary analytics, the platform processes the digital fingerprints of individual, scanned rough diamonds. It then cross-references these with the buyer’s optimal polished requirements, identifying the rough stone that yields the best possible outcome for the desired polished product. This ensures that every rough diamond sold through Clara is optimally utilized, maximizing its inherent value.
Unlocking Value: The Multifaceted Benefits of Clara
The benefits of Clara’s innovative approach are transformative, impacting every participant in the diamond value chain, from mining companies to end consumers.
For Diamond Producers: Maximized Revenue and Operational Efficiency
One of Clara’s most significant contributions is the elimination of the antiquated “batch” style sales process. This traditional method, focused on selling diamonds in large assortments, could only ever achieve “average” prices for a mixed parcel of stones. Clara, by contrast, sells diamonds individually, ensuring that each unique stone achieves its absolute best possible price. This not only maximizes revenue for producers but also streamlines their operations significantly. Diamonds are uploaded for sale as soon as they are recovered from the mine and processed through the Sarine Galaxy® scanning and Advisor® planning technology. The cumbersome and costly process of batching rough diamonds for tender, auction, and site allocation becomes obsolete. This revolutionary shift eliminates burdensome inventory carrying costs, smooths out volatile revenue streams, and provides producers with immediate liquidity and a more predictable financial outlook.
For Manufacturers and Retailers: Precision Sourcing and Reduced Costs
Equally transformative for manufacturers and retailers, Clara facilitates diamond sales on a precise stone-by-stone basis. This empowers customers to purchase only those specific rough diamonds that perfectly meet their manufacturing requirements, eliminating the necessity to acquire unwanted stones within a larger parcel. The traditional model often left manufacturers with undesirable inventory, necessitating costly re-trading and significant financing overheads. Clara liberates them from these burdens, allowing for more efficient capital allocation, reduced inventory holding periods, and a more responsive supply chain tailored to specific market demands. This precision sourcing translates directly into improved profitability and operational agility.
The Added Benefit of Diamond Provenance: Building Trust with Blockchain
In today’s socially conscious market, consumers are increasingly interested in understanding the origin and journey of their diamonds. There is a growing demand for assurance that diamonds have been recovered and sourced in a socially and environmentally responsible manner. Clara directly addresses this critical need by integrating robust blockchain technology into its platform.
Every rough diamond sold through Clara is meticulously tracked with a secure and immutable record of its origins and ownership history. This tamper-proof ledger provides unprecedented transparency, offering complete peace of mind for consumers who can confidently verify the ethical sourcing and legitimate journey of their diamond. This commitment to provenance not only builds consumer trust but also strengthens the overall integrity and reputation of the diamond industry. Sarine’s “Diamond JourneyTM” further enhances this capability, providing a verifiable digital trail from the mine to the consumer, reinforcing Clara’s dedication to a fully transparent and ethical supply chain.
The Way Forward: Commercialization and Future Growth
Clara’s commercialization efforts are progressing exceptionally well, tracking precisely to schedule and budget. The initial phase has seen Clara successfully identify and engage a selection of industry-leading diamond manufacturers and integrated jewelry houses. These pioneering partners have enthusiastically agreed to participate in a trial of the Clara digital sales platform, commencing in the third quarter of 2018. For this pivotal trial, Clara will initiate sales on the platform using meticulously selected diamonds recovered from Lucara’s renowned Karowe diamond mine, known for its exceptional quality and large stone recoveries.
Further details about this exciting trial phase are anticipated to be provided in the coming weeks, offering deeper insights into the platform’s performance and the initial feedback from participants. Following the successful completion of this initial trial, Clara plans to extend invitations to additional diamond producers and manufacturers globally, encouraging them to experience the transformative benefits of its platform. This phased rollout strategy ensures a robust and scalable expansion, cementing Clara’s position as the future of rough diamond sales. The long-term vision for Clara is to become the definitive global marketplace, fostering a more efficient, transparent, and valuable ecosystem for the entire diamond industry.
News Source: lucaradiamond.com