De Beers' mining policy:a return to ambiguity

While it was still operating as a cartel in the 1990s, De Beers maintained buffer stocks and production quotas to support high rough prices. Then, with Supplier of Choice, De Beers supposedly became demand-driven through controlling the downstream behaviour of its Sightholders.

When it proved to be unworkable, the DTC moved to supplying rough in accordance with demand, while maintaining a long-term sustainable pricing policy. During the current crisis, production was slashed and the company managed to prevent a steeper fall in prices.