Diamond industry warns of drastic change
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
Traders, cutters, and retailers are all warning that the diamond business’ struggles will cause a restructuring of the entire industry.
In 2008, as the bleak economic outlook deepened, there were significant repercussions for the diamond industry. Early on in the downswing it seemed that the industry would withstand the economic current. However, under close examination it was apparent that a storm was brewing.
DiamondCorp Plc, which is based in London, said it stopped processing mining waste because extracting gems that way isn’t profitable. For full story, click here
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