De Beers sees diamonds recovering next year
Friday, August 02, 2024 | 1210 Views |
Hopeful: Rowley sees an uptick taking place next year
The diamond retail market has been experiencing subdued demand since the second half of last year, causing the mid-stream to build up high inventories which have in turn forced producers such as De Beers to cut production.
Presenting the group’s interim financials for the first half last week, De Beers Vice President, Paul Rowley, said trading conditions for the diamond market remained difficult with jewellery sales in major markets such as China affected by poor macroeconomic conditions.
“I believe that free but fair trade isan absolute imperative”– John E. JamesFor two countries bound by geography, history and deep economic ties, periods of diplomatic strain serve neither side well. President Duma Boko’s efforts to restore momentum to relations with Pretoria deserve recognition, particularly at a time when Southern Africa faces shared challenges ranging from sluggish economic growth and unemployment to energy security...