De Beers

One should note that gem quality lab grown diamonds account for only 3% to 4% of sales in the global diamond market.

ALROSA Diamond News In ALROSA Diamond News the company has come to terms with the Angolan national diamond company Endiama.  Also, they intend to develop the African nation’s biggest kimberlite mine. For example, it is an estimate that the project could be worth $35 billion.  Also, it is speculated that the potential could likely be more than that.  Additionally, this...

Diamond Sales Decline Diamond sales fall for the Dominion Diamond Corporation. The corporation reported a 21% decrease in sales during the year ending on January 31. The diamond sales decline was a result of two of its lower quality diamond mines located in Canada. Despite the lackluster sales from the previous year, the company expressed a positive outlook for the...

The amount of goods deferred or outright refused was less than in previous years. Manufacturers are expected to begin ramping up their polished production from the current levels by the end of June. De Beer’s diamond boxes were trading on the secondary market at very slight premiums and with credit terms of up to 90 days.

While few dealers argued that point, manufacturers countered that there not only being squeezed by reduced bank credit, but by rough prices remain high in a declining polished market. DeBeers maintained relatively stable prices at the December site, which closed with an estimated value of $600 million. Rapaport estimates that DeBeers rough sales rose 14% to more than $6.5 billion in 2014, boosted by price appreciation and a stronger than usual second half of the year.

"The DeBeers stock at the time of Asian currency crisis of 1997/1998 had a value of several billion dollars. Our senior management questioned whether holding such a large stock was a sustainable and efficient use of capital," Davies said, "and this triggered a strategic review that resulted in a decision to liquidate the stockpile over a number of years." Responding to that claim, Vanderlinden said, "we can only take them at their word. Nobody really knows. The truth is probably somewhere in the middle."

De Beers Group of Companies published its annual report summarized the mining giant's corporate and social responsibility success in 2012, including a 3.9 billion economic impact to stakeholders in Africa, such as governments, suppliers, employees and shareholders, representing 75% of the group's revenue.