pricesDiamond demand up in US, good news for De Beers
By Bruce Weibusch
11 Apr 2005 at 01:37 PM
Increasing demand for diamonds by US consumers is encouraging news for the world’s largest diamond producer, DeBeers. A report from Yahoo! News also indicates that weakness in the South African rand against the dollar could help the company‘s profitability. The Johannesburg-based company indicated only two of its seven mines in South Africa are profitable, but is increasing its prospecting efforts in Russia.