DiamondBuzz
Lucara Secures $50 Million Equity Boost for Karowe Underground Expansion
Lundin Family Trusts back CAD 70 million private placement to fund 2026 development plans
Lucara Diamond Corp. has raised CAD 70 million (approximately $50.5 million) through a private placement of equity to support the advancement of its Karowe Underground Project (UGP) and strengthen its working capital position.
The company issued around 437.5 million shares at a price of CAD 0.16 per share, with the Lundin Family Trusts subscribing to the entire offering. The Lundin family controls Nemesia, Lucara’s largest shareholder, reinforcing its long-term commitment to the miner’s flagship Botswana operation.
Proceeds from the financing will be primarily used to progress the Karowe UGP, a key growth initiative aimed at extending the life and value of the mine, alongside general corporate and working capital requirements.

Commenting on the transaction, Lucara President and CEO William Lamb said the support from the Lundin Family Trusts highlights the strategic importance of the underground expansion. He added that the funding will position the company to accelerate critical project milestones planned for 2026.
The private placement is subject to customary regulatory approvals, including acceptance by the Toronto Stock Exchange, and does not require shareholder approval. Lucara expects the transaction to close by the end of the month.
DiamondBuzz
HRD Antwerp Launches Globally Recognised Diamond, Gemmology and Jewellery Education Programmes in India
HRD Antwerp, one of the world’s leading authorities in diamond, gemmology and jewellery education, has announced the launch of its internationally recognised education programmes in India. The initiative marks a significant step in strengthening professional training standards for the country’s diamond and jewellery industry.
The inauguration was honoured by the presence of Frank Geerkens, Consul General of Belgium in Mumbai, and Mehul N. Shah, Vice President, Bharat Diamond Bourse, highlighting strong industry support for the initiative and the enduring ties between Belgium and India in the diamond and jewellery sector.

The launch and inauguration took place during the first official visit to India of Paul De Wachter, CEO, HRD Antwerp, highlighting the strategic importance of the Indian market for the organisation. The CEO was joined by Stanley De Belie, Chief Operating Officer, and Philip Baeten, Chief Financial Officer, reflecting HRD Antwerp’s strong global leadership engagement with its India operations.
Representing HRD Antwerp’s India leadership team at the event were Ramakant Mitkar, Managing Director; Chandrakant Narkar, Sales Director; and Anand Gusani, Global Education Manager, who will lead the growth and delivery of HRD Antwerp’s education initiatives in the country.
The programmes will be delivered from HRD Antwerp’s education facility in Mumbai, providing Indian students, retailers, entrepreneurs and industry professionals access to globally benchmarked education without the need to travel overseas. The launch brings HRD Antwerp’s European standards of scientific precision, consistency and integrity directly to one of the world’s most important jewellery markets.
With a legacy spanning over five decades, HRD Antwerp has trained more than 240,000 students worldwide, contributing to the development of skilled professionals across the global diamond and jewellery value chain. The introduction of its education programmes in India is aimed at addressing the growing demand for structured, credible and internationally aligned training within the industry.
The curriculum covers a wide range of subjects, including diamond grading and identification, gemmology, gemstone treatments, small diamond expertise, lab-grown diamonds, and jewellery-related market knowledge, combining scientific fundamentals with practical, industry-relevant applications.
Training is conducted by senior industry experts using advanced grading and gemmological equipment aligned with HRD Antwerp’s global standards. Upon successful completion, participants receive a Diploma from HRD Antwerp, a qualification recognised across international diamond and jewellery markets.

Speaking at the launch, Paul De Wachter, CEO, HRD Antwerp, said,
“India plays a central role in the global diamond and jewellery industry. By introducing HRD Antwerp’s education programmes in India, we aim to support the development of skilled professionals who meet the highest international standards, strengthening trust and professionalism across the value chain.”
Commenting on the significance of the initiative, Mehul N. Shah, Vice President, Bharat Diamond Bourse, said, “India’s diamond and jewellery industry continues to grow in scale and global relevance. Access to structured, internationally aligned education programmes will play an important role in strengthening professional standards and supporting the industry’s long-term development.”

With this launch, HRD Antwerp reinforces its commitment to advancing education, ethical practices and global standards within the diamond and jewellery industry.
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