Finance, declining profitability to be keenly debated at 2015 President’s Meeting

Pursuant to De Beers Group CEO Philippe Mellier confirming his attendance at the 2015 Presidents Meeting next month, World Federation of Diamond Bourses (WFDB) President Ernie Blom said his presence would help sharpen a key debate at the event – the difficulty of securing finance and declining profitability in the diamond trade.

"It is no secret that this is one of the most difficult periods for the global trade," said Blom. "Securing financing is incredibly difficult, and the drop in profitability is making that issue even worse for our members. Consequently, I have no doubt that the WFDB Presidents, along with their counterparts from the International Diamond Manufacturers Association, will be listening very carefully to Philippe Mellier's comments.” He further added that there would be private talks held with Philippe Mellier, “to understand better the viewpoint of De Beers in light of the tough trading conditions our members are having to cope with. A major aim will be to ensure that De Beers has a complete picture of the state of the diamond industry globally.” While stating that “I know Philippe will be responsive to our concerns,” he expressed the importance of this moment in that “the time has come for us to see moves by De Beers and the other producers that enable manufacturers and others to be able to increase profitability."

The Presidents Meeting will be held in Tel Aviv from June 14 to 16.