India slowdown cramps De Beers sales
Monday, May 27, 2024 | 470 Views |
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Diamonds PIC: MORERI SEJAKGOMO
This was revealed in the latest sales report by De Beers in which the diamond miner projects that provisional fourth quarter sales will reach $380 million (P5.17 billion), which is a fall from last year’s Q4 sales of $479 million.
Al Cook, CEO for the group whose parent Anglo American is a subject of unsolicited takeover bid from rival BHP, said Friday the slowdown is part of a projected downward motion for the diamond market pushed by market pressures and a slowing down of the Indian economy due to elections.
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