Diamonds may be a girl’s best friend, but investors might prefer to stay aloof when it comes to sparkly little stones.

Since the delisting of De Beers (now exposed to the market via Anglo American), the JSE’s once well-populated diamond board has greatly diminished. Over the decades, there have been other hopefuls — such as Letseng, which was part of the greater Kebble empire. But most diamond contenders have faded into oblivion. To put it crudely, diamond dabblers have had carrots instead of carats.....

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