Sales at the diamond miner De Beers have slid to their lowest level in almost a decade, after the pandemic took the shine off global demand for gems and jewellery. The world’s biggest diamond producer said it had provisionally sold $2.7bn of rough diamonds during 2020, down a third on 2019’s sales of more than $4bn. Global demand for diamonds and jewellery tumbled in the spring, knocking sales and prices. At the same time, diamond production at some of the company’s southern African sites declined by 27% as coronavirus restrictions hampered operations. De Beers was also forced to cancel one of its regular sales events in Botswana after travel restrictions prevented buyers from attending. Earnings at De Beers, which has been part of the vast Anglo American mining group since 2012, plummeted in the first half of the year to just $2m, down from $518m for the same period in 2019.
SOURCE: THE GUARDIAN
More Stories
Lebo M on 25 Years of The Lion King on Broadway
Mountain House Makes the Most of Its Spectacular Site
A Tribute to Black Artists Could Signal a Change for Museums
7 Young African Women Dominating the Turntables
Meet the Founders of Kitchens of Africa
Seychelles Shines Again at the World Travel Awards
Planning to Honeymoon in the African Bush?
For the Ultimate Trip, these are the Best Hotels in Marrakech
Ghana is also a Great Destination for Keen Walkers
17 Regional Countries have Increased their Travel and Tourism Development Index
What are the Benefits and Costs of Scaling-up the Commercial Production of Bioenergy in Africa?
Faculty of Harvard University and Africa.com Offer Online Course for Entrepreneurs in Food Systems