An employee sorts through a large collection of rough diamonds on a sorting table at the United Selling Organisation of Alrosa PJSC sorting center in Moscow, Russia, on Tuesday, Feb. 12, 2019. Alrosa PJSC, one of the worlds top diamond miners, is returning to crisis-stricken Zimbabwe, the latest example of Russia expanding its footprint in Africa.
In a series of trials, Vancouver, Canada-based Lucara claims that prices were 8 percent over Lucara’s traditional market price. It’s now trying to bring other independent producers on board, with the aim of moving at least a portion of the $18 billion annual diamond trade onto its site called Clara. Clara incorporates blockchain technology, which is seen as a promising avenue for an industry that has been plagued by ethical problems, including the trade in so-called “blood diamonds” used to finance armed conflicts. Lucara is far from the only miner who has seen the benefits of the digital ledger in guaranteeing the provenance of its product.
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