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De Beers: Diamond Supply Fell, Demand Rose

19.08.12, 11:16 / World
Philippe Mellier
De Beers  Enlarge
Philippe Mellier
A senior executive of diamond company De Beers says that the world market for diamonds has improved markedly in the last five years, Mining Weekly reports. De Beers chief executive officer Philippe Mellier made the comments at a media conference to mark the company shifting its global based of operations from London, England to Gaborone, Botswana.
 
Meiller said that the last half-decade have seen a 30% drop in the global diamond supply and a commensurate 30% rise in global diamond demand. Noting that growth in demand for diamonds has slowed down at present, Meiller said that demand continues to rise nonetheless.
 
De Beers Diamond Trading Company chief executive officer Varda Shine also spoke of the dip in demand for diamonds, saying that it occurs every year during the summer months. Between Mother's Day and the Indian holiday of Diwali, demand generally drops, Shine told Mining Weekly.
 
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