De Beers’ sales and diamond output plunge
Covid-19 disruptions and reduced sales hit second-quarter production
16 July 2020 - 11:06
De Beers, the world’s biggest rough diamond producer by value, was reduced to a shadow of itself during the second quarter as sales dipped to almost nothing and production plunged.
De Beers, which is 85% owned by Anglo American, one of the world’s major diversified resources companies, took a double beating from its major mining operations in Southern Africa, disrupted by the governments’ attempts to curb the spread of Covid-19 and a dearth of diamond buying caused by travel restrictions...
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