REPOST OF SARINE TECHNOLOGIES' NEWS RELEASE (View PDF)
Hod Hasharon, (Israel), 25 June 2020 – Singapore Exchange Mainboard-listed Sarine Technologies Ltd (“Sarine” or "the Company" and together with its subsidiaries "the Group") (U77:SI), a worldwide leader in the development, manufacture and sale of precision technology products for the evaluation, planning, processing, finishing and trading of diamonds and gems, is pleased to announce that it has expanded its collaboration with Clara Diamond Solutions Corporation (“Clara”), a subsidiary of Lucara Diamond Corp. ("Lucara") to extend provenance traceability to Clara's diamonds through the Sarine Diamond JourneyTM.
Clara is a digital, web based rough diamond sales platform that uses our Galaxy® / Advisor® derived possible planning solutions together with proprietary matching analytics to sell individual rough diamonds directly, stone by stone, to diamond manufacturers and integrated jewellery houses, eliminating the need to buy in large batches and allowing these businesses to focus their working capital on the specific stones they need, at prices they can afford.
Through a proprietary interface, Clara's platform will now provide the diamond’s source mine information and scanned 3D model data generated during its internal processing, for storage in the Sarine Diamond JourneyTM cloud-based repository. For those customers who have subscribed to the Sarine Diamond JourneyTM, this will create a verifiable “birth certificate” of each rough stone’s source that will serve as the initial point of reference for the stone's provenance record. The information will then be augmented with data from the cutting and polishing process, creating a complete verifiable Sarine Diamond JourneyTM trace of the stone from mine through polisher to retailer – and ultimately to the consumer.
Ms. Eira Thomas, CEO of Lucara stated, “Clara is delighted to expand its partnership with Sarine, creating an opportunity to extend the all-important provenance tracking record further into the supply chain, as issues of responsible and sustainable sourcing are key to consumer confidence in our industry today. The data generated by Sarine’s Galaxy® and Advisor® technologies already on Clara’s digital platform will now be seamlessly integrated with the Sarine Diamond JourneyTM to facilitate a definitive proof of the stone's initial source, adding value throughout the diamond pipeline.”
Mr. David Block, CEO of the Group commented, "We are excited to have another producer opt into our unique provenance initiative, as it broadens our connection with the upstream mining and producing segment of the diamond industry value chain, and provides consumers with verifiable sourcing data generated, again, with nearly no additional cost or overhead to the industry players. When we announced our initial cooperation with Clara some 18 months ago, I stated already then that I believed that we would further cooperate with Lucara on a provenance initiative, and I am very pleased that they too see our Diamond JourneyTM as the natural fit.”
About Sarine Technologies:
Established in 1988, Sarine Technologies Ltd. is a worldwide leader in the development and manufacturing of advanced evaluation, planning, processing, and finishing systems for diamond and gemstone production. Sarine products include the Galaxy® family of inclusion mapping systems, rough diamond planning optimisation systems, laser cutting and shaping systems, laser-marking and inscription machines and polished diamond Clarity, Color, Cut and light performance grading tools and visualisation systems. Sarine systems have become standard tools in every modern manufacturing plant, properly equipped gemmology lab and diamond appraisal business, and are essential aids for diamond polishers, dealers, and retailers. For more information about Sarine and its products and services, visit http://www.sarine.com.