Diamonds May be Forever, High Prices Are Not




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ORIGINAL POST

POSTED BY Ed (2 mths ago)
With natural diamonds not so hot, De Beers is venturing into man-made diamonds with a price war.

Anglo American’s De Beers, the world’s No.1 diamond miner by value, has just had the lowest sales for its seventh cycle since it began releasing data in 2016, as it let customers delay acquiring smaller stones for the first time.

Sales for the cycle stood at a provisional $505 million, down 5.5 percent from the $533 million obtained in the previous cycle of the year and 0.4 percent from $507 million for same period in 2017.

“De Beers Group provided Sightholders with the opportunity to re-phase the allocation of some smaller, lower value rough diamonds.” chief executive officer, Bruce Cleaver, acknowledged in the statement:

https://wolfstreet.com/2018/09/11/is-diamond-demand-crumbling/


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