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De Beers and other mining firms slash diamond prices

Fall in demand, increase in the production of synthetic diamonds and inadequate bank financing cited

Prices of polished diamonds continue to fall by 2 to 3 per cent, according to New York diamond trading firm Rappaport.


SLACK demand and difficult trading conditions in the diamond industry are forcing De Beers, Alrosa and other mining companies to slash prices.

 In its latest annual report, Russian company Alrosa, which produces 36 million carats a year or  around 27 per cent of global