Lucara Diamond Corp. has announced the appointment of William Lamb as the new President and Chief Executive Officer, succeeding Eira Thomas.
Lamb is no stranger to Lucara, having served as its CEO from May 2011 to February 2018.
His significant experience in mining project development and operations, especially his previous tenure at Lucara and expertise gained at De Beers, positions him well to steer the company’s key projects amidst the current challenges.
During his previous stint as CEO, Lamb was instrumental in the successful construction of the original Karowe mine and its facilities.
Thomas’s Legacy
Eira Thomas, who co-founded Lucara in 2007, has made significant contributions since assuming the role of CEO in 2018. Under her leadership, Lucara introduced an innovative diamond sales strategy for rough stones greater than 10.8+ carats through an agreement with HB Antwerp. This initiative generated regular revenues on superior pricing terms. Thomas also spearheaded the commercialization of Clara, a secure digital platform for matching rough diamond supply with customers’ polished needs, marking a step towards modernizing the traditional diamond supply chain.
More recently, Thomas arranged a $220 million financing package that enabled the underground expansion of Karowe mine in Botswana to advance, laying the groundwork for further value addition at the mine for the benefit of all stakeholders.
Board Reactions and Future Expectations
The board members have expressed their gratitude for Thomas’s dedicated service and innovative approach which significantly contributed to Lucara’s position in the diamond industry. Her focus on operational excellence, technological innovation, and community engagement were particularly acknowledged.
The board, while looking forward to working with Thomas on exploring options to maximize Clara’s value, is also optimistic about Lamb’s return. They believe Lamb’s past experience and successful track record at Lucara make him the ideal candidate to lead the company through the next phase of its underground expansion project, especially at a time when the project’s time and cost estimates have been revised.
Lucara’s leadership change comes at a critical juncture as the company aims to navigate through the challenges posed by the underground expansion at Karowe, and continue its trajectory of growth and innovation in the diamond industry.
