The direct cost of the slump in global demand for diamonds has resulted in the loss of over 1,900 jobs in Namibia, whose diamond sector has been hard hit by the international economic slump. For full story, click here
Namibia’s central bank governor declared that the diamond-rich southern African nation’s economy will shrink by 0.6 percent in 2009 as mining slows in the global economic slump. For full story, click here
They may be the hardest substances in the world, but even diamonds aren’t immune to the global economic slump. In fact a downturn in sales has led to the biggest cut in diamond mining in modern history. For full story, click here
Russia’s Alrosa, the world’s second-largest diamond producer, on Friday announced that it has cut its 2009 production plans by a fifth as the global financial slump dents demand for the gems. For full story, click here
A huge diamond stockpile that remain unsold due to global economic slump could now force several land-based mines in the main Diamond Mining Area One at Oranjemund to close down. For full story, click here
Get our independent commentary on diamond trends and companies delivered to your inbox.
