Blog Entries tagged 'De Beers'

August DTC sale biggest so far this year, RBC

blog@find-a-diamond.com — Wed, 02 Sep 2009 00:00:00 +0100

De Beers held its biggest sale so far this year in August as diamond prices improved, RBC Capital Markets said, citing cutters and polishers it didn’t identify, Bloomberg reported. De Beers probably sold diamonds worth as much as $475 million at its seventh sale, analyst Des Kilalea said in a note to clients dated yesterday. That brings [...]

De Beers held its biggest sale so far this year in August as diamond prices improved, RBC Capital Markets said, citing cutters and polishers [...]

Botswana: De Beers in 99 Percent Loss As Diamonds Lose Their Glitter

blog@find-a-diamond.com — Tue, 28 Jul 2009 00:00:00 +0100

The world’s largest diamond producer, De Beers, has reported a 99-percent drop in net profits for the first half of 2009 to just $3 million after demand for luxury goods was hard hit by the global recession. The diamond giant, which has a 50/50 partnership with Government in Debswana, made $316 million in the same period [...]

The world’s largest diamond producer, De Beers, has reported a 99-percent drop in net profits for the first half of 2009 to just $3 million after dema [...]

De Beers Diamond Sales Rise; Mining Will Resume in Botswana

blog@find-a-diamond.com — Thu, 09 Apr 2009 00:00:00 +0100

De Beers, the world’s largest diamond producer, said sales are climbing this year and mines in Botswana probably will resume production next week. “Sales have been steadily increasing since the end of last year,” spokeswoman Lynette Gould said in an e-mailed statement dated yesterday. Cash flow was positive in March, and the Johannesburg-based company is “optimistic” [...]

De Beers, the world’s largest diamond producer, said sales are climbing this year and [...]

Recession Hits the Diamond Industry

blog@find-a-diamond.com — Fri, 13 Mar 2009 00:00:00 +0100

The diamond industry does not exist in a bubble. This was proven when the famed jewelry store Tiffany in New York City lowered their diamond prices.

According to a New York Times report, even De Beers, which managed to maintain the high prices of diamond jewelry by restricting its supply, is feeling the economic crunch. Last year. The powerful diamond supply asked its workers in Botswana to have an extended Christmas vacation. This only means that there is more supply than demand, which would [...]