Mmegi

De Beers sees diamonds recovering next year

Friday, August 02, 2024 | 340 Views |

Hopeful: Rowley sees an uptick taking place next year

Diamond giant, De Beers, expects the downturn in the industry to ease next year, with the pressures affecting the stones falling off in the early quarters of 2025.

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.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.

Presumptive drug test. PIC: SPORTSINTEGRITYINITIATIVE

Botswana records another doping case

Calistus Kolantsho | 23 h ago

BBS Bank turns first profit

Mbongeni Mguni | 23 h ago

Premier League Matchday 4: Major fireworks expected at the Tottenham Hotspur Stadium. Catch it ALL on DStv

Staff Writer | 1d ago

RAMOJAKA music festival to combat cross-border crimes

Lesedi Mkhutshwa | 1d ago

Zebras expected in Francistown at 11:45am

Mqondisi Dube | 2d ago

CAF grants Botswana's request to move Zebras-Egypt kick-off time

Staff Writer | 09 Sep 2024

BFA still waiting for CAF response on evening kick-off

Mqondisi Dube | 09 Sep 2024

Relief beckons in upcoming

Mbongeni Mguni | 06 Sep 2024

Ditlhopho di tsile: Vote wisely

This is a significant moment for our democracy, and it is crucial that every eligible voter takes part in shaping the future of our nation. This is a call to action for all the registered voters and stakeholders to ensure a smooth and informed electoral process.First and foremost, if you are a registered voter, now it is the time to get ready. Ensure that you have your voter registration card and identity card (Omang) in order. If you have...

Mmegi Editor | 06 September 2024

About us

Mmegi is the leading independent source of breaking news, latest news, current
affairs, Politics, Business, Sport, debates, analysis, and entertainment news in Botswana.

Explore

More