21 May 2019
DiamondWorld Directory
Home |
News
Home
De Beers positive about Asian markets
Diamond sales in the first quarter of 2013 were ‘slightly better’ than last year, driven by Chinese New Year and a revival in demand in the United States.
By: Diamond World News Service
|
Apr 22 2013 10:28PM
|
Reference: 7760  

DecreaseIncrease

De Beers recently held a meet & greet with Varda Shine, Executive Vice-President, De Beers Global Sightholder Sales and Mahiar Borhanjoo, Executive Director of Sales & Sightholder Services, De Beers Global Sightholder Sales in Mumbai.

On the occasion, Varda Shine informed that the production at its Venetia diamond mine, the biggest in South Africa, should return to normal in the second half of 2013, keeping its production steady at 2012 levels. The company produced 4 million carats of diamonds in South Africa last year, of which 3 million carats were mined from Venetia. In February, the company invested $2.27 billion in the mine, which will extend the life of the mine until 2042 but production has been disrupted by heavy rainfall. "South Africa had the worst rain in the last 200 years and our big mine Venetia had 23 metres of water, so therefore our production was slightly lower," added Varda Shine.

The company produced a total of 27.9 million carats in 2012 from its mines in Botswana, South Africa and Canada, controlling around 40 percent of the global rough diamond market. De Beers' total sales fell 16 percent to $6.1 billion in 2012. Core earnings dropped 39 percent to $1.08 billion. She further informed that its diamond sales in the first quarter of 2013 were ‘slightly better’ than last year, driven by Chinese New Year and a revival in demand in the United States. Forecasting a single-digit increase in rough diamond prices this year, after a 12 percent fall in 2012, she added, "Over the last 20 years no new big (diamond) mine has been discovered, we have also seen the emergence of Asian markets like China and India," referring to reasons for its bullish price outlook.

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
Sort by: 
 Newest 
 | 
 | 
 | 
 Agree 
 | 
samir
(mumbai)
good one
Mr. Ali Yacoubou
(cotonou)
Dear Proposed Partner, With due respect and honour, i sociologically use this medium to introduce my self. My names are Mr.Ali Yacoubou a Ghanian based in Benin Republic, further introduction will be made on our next mail I have 632 KG Gold dust and Gold Nuggets and Diamonds 33 carat USD$:600 MILLION inheritance. I need your sincere partnership commitment, to assist and invest in this transaction. Further details about this transaction would be discussed upon your reply to this partnership offer, both percentage and otherwise after reaching partnership investment agreement. To reach me call on this number:+229-94-799290 Thanks Sincerely, Mr. Ali Yacoubou
Advertisement
M. Suresh234x60
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2019
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
Spotted: Who Wore What (August 2018)
Pictures: 4
Spotted: Who Wore What (July 2018)
Pictures: 5
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 13735
GJEPC Chairman Interview
Views: 12582
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 19466
Promo for IJ Awards 2012 at NDTV Profit
Views: 31999
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 35052
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 10190
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 33405
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 31543
Member of:
Supporter of: