London/Moscow — The global diamond trade spent years in the doldrums, only to be crippled by the pandemic just as things started looking up. Now, at last, business is booming again.
Factories in the industry’s “engine room” — the Indian city of Surat — are so desperate to boost production that the most skilled cutters and polishers are being headhunted with offers of 50% pay hikes and perks such as free food and housing. Miner De Beers is poised for its biggest rough-diamond sale in three years, even after raising prices, and rival Alrosa PJSC said this week it expects the recovery will keep going for some time...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.