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Tech company promises ‘complete transparency’ in end-to-end diamond supply chain management system

INDIA-ECONOMY-DIAMONDS

HB Group has promised the ‘first’ completely transparent end-to-end diamond supply management system in the world.

Its new supply chain management technique, the company said, will introduce a “new era of price transparency”.

HB Group is a technology company focused on the diamond industry with headquarters in Antwerp.

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It has tested its new method with strategic partner Lucara Diamond Corp and its Botswanan Karowe diamond mine.

It achieves complete transparency by realising and tracking every step in the diamond supply chain.

A statement from HB Group said: “By buying all rough diamonds exceeding 10.8 carats, directly from the Karowe mine and analysing and processing them exclusively through HB Group, an end-to-end supply chain management system will be introduced which streamlines and therefore increases the transparency in the diamond supply chain.”

Meanwhile, HB Group co-founder Oded Mansori added: “With this partnership we are able to usher in a new era of price transparency, rough diamonds utilisation and product ingenuity. As Antwerp is the world leader in diamonds, we are eager to take this diamond industry to the next level. This is merely a first step to a much broader inspiring future.”

Earlier this year, the HB Group was in the news when Louis Vuitton bought the Lucara diamond ‘Sewelo’, the second largest diamond ever found. Louis Vuitton is using the knowledge and expertise of the HB Group to analyse and process this unique diamond.

Read more about the Sewelo diamond below:

Louis Vuitton bags world’s second largest uncut diamond

Tags : diamond miningHB GroupLucaraLVMHsewelo
Sam Lewis

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