Data provided by iNet BFA
Loading...
See More

De Beers: Rough diamond demand to soar

Sep 19 2011 08:20 Reuters

Company Data

ANGLO AMERICAN PLC [JSE:AGL]

Last traded 288.00
Change 8.61
% Change 0.03
Cumulative volume 2856987
Market cap 404.77bn

Last Updated: 22/07/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

De Beers in new Botswana deal

De Beers strike over, wage deal signed

De Beers sales up 33%

Mines: Botswana shows SA how

Num to 'rock the diamond industry'

Diamond prices bounce back 40%

 

Hong Kong  - Diamond producer De Beers expects global demand growth for rough diamonds to set a new record this year on the exceptionally strong performance of its key US market and robust demand in China and India, the head of the company's distribution arm said.

Despite global volatility and concerns that the global economy is sliding towards another financial crisis, demand for diamonds was unlikely to be badly impacted because of its safe-haven appeal, Diamond Trading Co (DTC) Chief Executive Varda Shine told Reuters in an interview on Monday.

"Taking the United States, China and India, and the Gulf, which is growing very nicely, we believe this year's demand is going to grow by probably the highest number since we started recording," Shine said during a three day visit to Hong Kong, without giving a specific forecast.

The diamond miner, which controls about 40% of the market for rough or unpolished diamonds, forecast growth for the US market at about 8% - 9% for the full year, exceeding a previous forecast of 7%.

De Beers is 45% owned by mining group Anglo American [JSE:AGL], 40% by South Africa's Oppenheimer family and 15% by the Botswana government.

 
anglo american  |  de beers  |  diamonds  |  mining
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

OneRandMan learns how money really works

National Savings Month is not only this month, it is every month from your very first salary slip, an expert warns OneRandMan and all South Africans.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...