• Inside Labour

    Brexit should send warning signals to worker organisations everywhere, says Terry Bell.

  • Racial redress

    The next adult generation is at risk of being polarised on the basis of skin colour, says Solly Moeng.

  • To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

All data is delayed
Loading...
See More

Diamond prices bounce back 40%

Jul 08 2011 09:40
Reuters

Related Articles

Zim govt probes De Beers

 
Milan - Diamond prices are now above pre-crisis levels after a 35% to 40% rise so far this year, helped by increased scarcity and an emerging role as an investment, the executive director of jeweller De Beers said.
 
"Diamonds are more scarce than before the crisis. And there are three markets where demand is very strong: China, India and the United States," said Stephen Lussier in an interview in Friday's Il Sole 24 Ore.

"The US still represents 40% of global demand," he said, adding that Americans had rediscovered diamonds as a form of diversification investment.

"As an investment, diamonds are more similar to art. You need to know what you're buying," Lussier said.

However, unlike gold, 99.5% of diamonds still end up in jewellery, he added.

Unlisted De Beers, the world's largest diamond producer, is 45% owned by global miner Anglo American [JSE:AGL].

Lussier said De Beers' diamond production, which had fallen during the financial crisis, has increased by 10% to 15% this year and the group will run at full capacity by 2012.
anglo american  |  de beers  |  diamonds

 
 
 

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
2 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

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

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...