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25 April 2010
» De Beers Cuts Diamond Production as Supply Seen Falling, FT Says
April 26 (Bloomberg) -- De Beers Consolidated Mines Ltd. is reducing production of diamonds as it expects the supply of the gems to decline, the Financial Times reported, citing Gareth Penny, managing director.
The tightening in production could mean diamond prices rising by 5 percent a year for the next five years, the newspaper said, citing Des Kilalea, an analyst at RBC Capital Markets in London.
Bloomberg
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